Dangote Refinery to Negotiate New Fuel Pricing with Oil Marketers

Dangote Refinery will meet with the Nigerian Petroleum Marketers on Tuesday and Wednesday to negotiate new fuel pricing.

Chinedu Ukadike, the spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), disclosed this on Sunday, October 13, 2024, during an interview on AriseTV.

We hope to sit down with Dangote maybe Tuesday or Wednesday, and if they give us a template or price, the more we take action in terms of distribution lines, the price will come down,” Ukadike stated.

“We are not afraid of this competition. We have organised ourselves and are ready to compete because this is the survival of the fittest”, he added.

This disclosure by IPMAN was after the Nigerian government ended its exclusive fuel deal as the sole buyer of Dangote’s Refinery through the Nigerian National Petroleum Company Limited (NNPCL), meaning oil marketers can now buy petrol directly from Dangote Refinery.

More so, this was after the fuel price crises between the government-owned NNPCL, Dangote Refinery and Marketers, which led to the increase of Premium Motor Spirit (PMS).

Meanwhile, as of last Wednesday, fuel was sold at N1,030 in Abuja.

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Mayowa Durosinmi

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M. Durosinmi is a West Africa Weekly investigative reporter covering Politics, Human Rights, Health, and Security in West Africa and the Sahel Region

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