IPMAN and Dangote Refinery to Discuss Direct Petrol Lifting and Price Reduction

The Independent Petroleum Marketers Association of Nigeria (IPMAN) is set to hold a crucial meeting with Dangote Refinery this week to discuss the direct lifting of Premium Motor Spirit (Petrol) and potential price reductions. Chief Chinedu Ukadike, the spokesperson for IPMAN, shared this information in a recent statement, expressing optimism that independent marketers will soon be able to lift petrol directly from the refinery.

According to Ukadike, despite recent changes in petrol distribution, achieving adequate supply in the country's oil and gas sector has been a challenge. "There is a meeting scheduled for this week between Dangote and IPMAN. We are pleased to see Dangote exploring new avenues for distributing its products to various stakeholders," Ukadike said.

He further mentioned that while Dangote Refinery has started distributing petrol to major marketers, independent marketers are hopeful that they will soon benefit from direct distribution as well.

This meeting comes at a time when petrol prices have surged across the nation, with retail outlets of the Nigerian National Petroleum Company Limited (NNPCL) and independent filling stations selling petrol for between N950 and N1,100 per litre, depending on the region.

Meanwhile, the Crude Oil Refiners Association of Nigeria (CORAN) has called on the Nigerian government to fix the foreign exchange rate at N1000 per dollar. CORAN believes that such a move could bring down the price of petrol at Dangote Refinery to less than N600 per litre, providing relief for consumers.

As the meeting unfolds, the nation anticipates potential changes in petrol pricing and distribution that could ease the burden on consumers and stabilize the market.