Despite ample supplies, petroleum products marketers have explained why they have not purchased petrol from the Dangote Refinery.
The development followed a recent alarm by the Chairman of the Dangote Group, Aliko Dangote, over the alleged boycott of his refinery by the Nigerian National Petroleum Company Limited (NNPC) and marketers.
The Nigerian billionaire said that the persistent queues in several filling stations nationwide are caused by marketers and NNPC not patronising his refinery.
He disclosed that the refinery currently has about 500 million litres of petrol waiting for buyers.
Dangote’s comment generated reactions from marketers who countered him, saying they were ready to buy from the Lekki-based refinery at competitive prices.
The marketers insist that the mega refinery should sell the product at a reduced rate to attract their patronage.
Daily Trust reports that many marketers who spoke anonymously said Dangote’s price is higher than that of imported products, discouraging them from buying it.
According to the report, many marketers landed the product at N970 per litre, while the $20 billion refinery sells for N977, leaving a margin of N77.
The marketers also said that with the current price and differentials, it would be challenging for local marketers to break even when purchasing from the refinery.
A previous report by TimesNow.com.ng stated that independent markers are willing to patronise the plant following Dangote’s alarm.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has asked the mega refinery to consider direct petrol sales to them, citing delays and outstanding payments from NNPC.
Earlier, IPMAN’s president Abubakar Maigandi said marketers are eager to buy fuel directly from the $20 billion refinery to address the current scarcity.
According to Maigandi, the association has over N40 billion trapped in NNPC, stating that the marketers cannot source petrol due to the significant debt.
BusinessDay said the IPMAN helmsman disclosed that the NNPC usually refer them to the Dangote Refinery whenever they want to buy from the national oil company.
The IPMAN boss cited significant delays in loading products from the Dangote Refinery, saying that their trucks spend as much as four days before being allowed to load.
Maigandi expressed shock over Dangote’s statement that he has over 500 million litres in the facility.
He asked the Lekki-based refinery to allow marketers to purchase the product directly from the plant, saying his members are willing to lift the product.
TimesNow.com.ng earlier reported that Dangote raised the alarm on Tuesday, October 29, 2024, saying the NNPC and marketers are boycotting petroleum products from the facility.
The Nigerian billionaire disclosed this after meeting with President Bola Tinubu of the Implementation Committee on the Sale of Crude and Refined Petroleum Products in Abuja.
