Marketers confirm 600m Dangote petrol lifting target
Independent petroleum marketers have confirmed that the Dangote Petroleum Refinery has set a target to release up to 600 million litres of petrol monthly as part of efforts to stabilise supply in the domestic market and ease the recent surge in pump prices.
It said the new distribution framework is been finalised with 20 selected marketers that will see the release of up to 600 million litres of petrol monthly to stabilise the Nigerian downstream market amid lingering supply challenges and rising pump prices.
This was disclosed by the National Public Relations Officer of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, on Thursday, who confirmed that the refinery recently held a strategic meeting with key players in the downstream sector.
According to him, the meeting, which included representatives of A.Y.M. Shafa, A. A Rano, NNPCL Retail, Salbas, and several other major distributors, focused on how to streamline product allocation and reduce the layers of middlemen contributing to price distortions.
At the meeting, Dangote announced plans to sell to only 20 selected marketers who will serve as primary distributors to other dealers. Each of them will lift a minimum of two million litres, which will translate to about 600 million litres every month,” Ukadike said.
He explained that the move was part of the refinery’s strategy to stabilise supply, eliminate speculation, and restore efficiency in product delivery across the country.
“We believe that once this structure takes effect, petrol availability will improve significantly and retail prices will start to ease,” he added.
The National Vice President of IPMAN, Hammed Fashola, also confirmed the arrangement, stating, “I have confirmed that 20 marketers have been shortlisted, although the final list has not yet been made public.”
Despite the refinery’s plan, filling stations in the Federal Capital Territory have continued to adjust pump prices upward amid tight supply.
Checks by The SOCIETYWATCH showed that some stations, including Optima Energy, increased their prices from N945 to N955 per litre, while A.A. Rano also raised its pump price to N945 per litre. A.Y.M. Shafa sold its products at N940 per litre.
Independent marketers have attributed the recent hikes to supply bottlenecks, depot pricing inconsistencies, and delays in product loading from the refinery.
This challenge moved the price of the commodity to N1,000 per litre mark across major cities in the country.
Reacting, the Independent Petroleum Marketers Association of Nigeria has blamed depot owners for the sudden surge in petrol prices.
IPMAN President, Abubakar Shettima, told The SOCIETY WATCH that depot owners increased their prices when they discovered that the Dangote refinery had stopped fuel loading for some days.
