
Oritsegbubemi Omatseyin
Lagos — Nigeria Petroleum Marketers are set for the July petrol rollout from the Dangote Refinery as the Independent Petroleum Marketers Association of Nigeria, IPMAN, Major Energies Marketers Association of Nigeria, MEMAN, and Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, have confirmed that their members are registering with the refinery.
Independent marketers have already lifted and distributed over 25 million litres of Automotive Gas Oil, commonly known as diesel, produced by the Dangote Petroleum Refinery in less than three months since the refinery began releasing the product.
They have also confirmed that the continuous lifting of diesel from the Dangote Refinery has helped stabilise diesel prices and ensured a steady supply since the plant began production in March this year.
Diesel prices have decreased from about N1,800 per litre to N1,200 per litre following the introduction of Dangote refinery’s diesel into the Nigerian market in late March 2024. Since then, the product has been consistently available nationwide.
IPMAN’s National Public Relations Officer, Chief Ukadike Chinedu, commenting on the stabilisation of diesel prices and availability, confirmed that over 25 million litres of AGO from the refinery have been distributed by IPMAN members across the country.
He said: “Independent marketers are registering with Dangote, and many of us have lifted a lot of products from Dangote’s depot. I’m aware of so many marketers who have registered with the Dangote Refinery. I can also confirm that independent marketers have loaded over 25 million litres of diesel since the refinery started the domestic sale of diesel to downstream oil sector operators in Nigeria.”
The sale of diesel to the domestic market by Dangote Refinery began on April 2, 2024. At that time, dealers and plant officials confirmed that the refinery had started pumping out diesel the previous week, with plans to sell aviation fuel soon.
IPMAN’s National President, Abubakar Maigandi, had indicated that the entry of the Dangote refinery into the market would lead to a reduction in diesel prices, which had peaked at about N1,700 per litre. “The price of diesel is going to fall because of the release of products from Dangote Refinery. In fact, it is already coming down in Lagos,” Maigandi had said.
This prediction came true, with diesel prices dropping to N1,200 per litre.
Officials at Dangote refinery have not commented on ongoing issues concerning the plant but dealers reported that marketers are eagerly anticipating the refinery’s release of petrol. They believe that this move could significantly reduce petrol prices.
Ukadike Chinedu stated: “Marketers are loading more products from the plant and are eager to begin the lifting of PMS from the refinery since the Chairman of the group has said that PMS should hit the market in July.
“I must say that it is a good thing to know that PMS is being finalised for release from that plant. This is because since Dangote diesel came into the market the price of diesel has not crossed the N1,200/litre mark.
“Independent marketers even in faraway northern states are selling diesel at N1,200/litre at the pumps. So the coming of Dangote has slowed down the skyrocketing price of diesel. Now we are expecting PMS by July, and this will end the importation of petroleum products.”