By Kolawole Ojebisi
The Dangote Petroleum Refinery has announced a reduction in its ex-depot price of premium motor spirit (PMS), also known as petrol, from N990 to N970 per litre for oil marketers.
The cut of N20 from the ex-depot price was announced in a statement issued on Sunday.
The N20 slash would help marketers reconsider their stance on the local refinery and perhaps assuage their grievances concerning the price of the petrol from the Lekki-based plant.
Speaking on the development, Dangote Group’s Chief Branding and Communications Officer, Anthony Chiejina, said the move is the refinery’s way of appreciating Nigerians “for their unwavering support in making the refinery a dream come true”.
“In addition, this is to thank the government for their support as this will complement the measures put in place to encourage domestic enterprise for our collective well-being,” the statement reads.
“While the refinery would not compromise on the quality of its petroleum products, we assure you of best quality products that are environmentally friendly and sustainable.
“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply.”
On November 1, the Independent Petroleum Marketers Association of Nigeria (IPMAN) said petrol — also known as premium motor spirit (PMS) — from the refinery is more expensive than buying from other sources.
Yakubu Suleiman, national assistant secretary of IPMAN, speaking on Arise Television’s Morning Show programme, said the group’s members go for more affordable options at other depots across Nigeria than the high logistical costs associated with buying petrol from the Dangote refinery.
Therefore, the oil marketers vowed to import the commodity and sell it below the Dangote refinery price as well as the price being sold by the Nigerian National Petroleum Company (NNPC) Limited, according to a report by Punch Newspapers.
But in a swift reaction, the Dangote petroleum refinery said that any oil marketer that selling petrol cheaper than the price it offered was importing substandard products.
After back and forth, on November 11, the Independent Petroleum Marketers Association of Nigeria (IPMAN) reached an agreement with the refinery to lift petrol and diesel directly.
Abubakar Garima, national president of IPMAN, said the partnership would ensure a steady, affordable supply of PMS products nationwide.
