Oil marketers in Nigeria have promised that petrol prices will fall once they start lifting petrol directly from the Dangote Refinery.
This news comes after a recent increase in petrol prices following the start of product lifting by the state oil company, NNPCL.
Currently, petrol prices have risen to ₦950 per litre in Lagos and even reached ₦1000 per litre in northern states.
Chinedu Ukadike, the spokesperson for the Independent Petroleum Marketers Association of Nigeria, shared these insights during an interview on Channels Television’s Morning Brief.
Ukadike explained, “It is just very simple. It shows that the liberalization of the market is on course. There is no way Dangote refinery will be producing petrol in Nigeria without considering IPMAN as one of its strategic stakeholders.”
He added that IPMAN is ready to distribute all the products from the Dangote Refinery, as they have filling stations in every part of the country.
He emphasized the importance of discussing direct lifting with independent marketers: “We want you to know that immediately after we discuss and commence direct lifting of product from Dangote, the issue of pricing and differential in pricing will be gone. What we are seeing here is price disparity.”
Ukadike also mentioned that when IPMAN started lifting diesel from Dangote, the price dropped significantly. “When we entered the market for AGO (diesel), prices came down from around N1600 to between N1000 and N1100.”
