The Independent Petroleum Marketers Association of Nigeria (IPMAN) has expressed its readiness to support and purchase petrol from Dangote Refinery once it begins public sales.
This was confirmed by IPMAN’s National President, Abubakar Maigandi, who stated that the association would patronize the refinery regardless of the pricing, provided that Dangote Refinery is open to doing business with its members.
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“Whatever the case, if Dangote starts selling his product, we are going to patronize him; if at all he wants to do business with us. We are ready to buy at any price because the NNPC is saying that they don’t want to involve themselves in fixing prices. So, at any price that he wants to sell, we are ready to buy, discharge, and sell at a good price,” Maigandi stated in an interview with Punch.
Meanwhile, the Nigerian National Petroleum Company Limited (NNPC) has responded to allegations made by the Muslim Rights Concern (MURIC) that suggested NNPC was undermining the operations of Dangote Refinery Limited (DRL). In a statement issued by NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, the company refuted claims that changes in the pump price of Premium Motor Spirit (PMS) would hinder DRL’s ability to offer competitive prices.
NNPC emphasized that it is not the sole buyer of petroleum products in Nigeria and that the market is open to competitive pricing from any local refinery, including DRL. The corporation also clarified that global market forces primarily determine the pricing of petroleum products, allowing domestic refineries to potentially offer lower prices amidst fluctuating global costs.
Additionally, NNPC dismissed claims of being the sole offtaker of Dangote Refinery products, stressing that any marketer is free to purchase directly from local refineries based on a “willing buyer, willing seller” model. NNPC reassured the public of its transparency in the petroleum market, reiterating that there are no exclusive distribution rights for Dangote Refinery’s products.
This development underscores the ongoing efforts to promote competition and stabilize fuel prices in Nigeria’s petroleum sector, as both IPMAN and NNPC emphasize open-market principles and the potential benefits of local refining capabilities.
