• Contact Us
  • About Us
Sunday, June 1, 2025
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
ADVERTISEMENT
Home Oil & Gas

Direct Lifting Of Petrol From Dangote Will Crash Prices, Oil Marketers Assure Nigerians

metro by metro
September 24, 2024
in Oil & Gas
0
It Doesn’t Make Sense For NNPCL To Sell Dangote Petrol Higher Than Imported Ones-IPMAN
0
SHARES
0
VIEWS

 

 

Read Also

OPEC+ Oil Producers Stick To Guns With Another Big Hike For July

OPEC+ Announces Increase In July Oil Output

Tinubu Signs Executive Order On Fresh Incentives For Oil Sector

Oil marketers have assured Nigerians of a drop in prices of Premium Motor Spirit (PMS) or petrol once they start direct lifting of products from the Dangote Refinery.

The assurance came after a rise in prices of products following of commencement of product lifting by the state oil company, NNPCL from Dangote Refinery.

Prices of petrol had shot up to ₦950 per litre in Lagos state and its environs, while consumers in the north pay as much as ₦1000 per litre for the product.

However, the Spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike while appearing as a guest on Channels Television’s Morning Brief on Tuesday, said marketers are now in discussion with the refinery for a possible direct lifting of petrol.

He said, “It is just very simple. It shows that the libralisation of the market is on course, because there is no way Dangote refinery will be producing petrol in Nigeria without considering IPMAN as one of its strategic stakeholders.

ALSO READ:Canada To Further Cut International Student, Foreign Worker Permits

“We were even thinking that one of his first points of call was to discuss with IPMAN and not NNPCL, because we can distribute every single drop of products produced by Dangote refinery because we are situated in every nook and cranny of this country. We also possess about 85 per cent of filling stations in Nigeria.

“So, it is pertinent that Dangote should discuss this with independent marketers, and I 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.

“But if IPMAN becomes independent, prices will drop. Because it will give us the opportunity for possible competition because we will no longer be depending on another source to get products.

“Dangote also opened up to IPMAN when he started producing AGO, diesel. We entered the market and started buying it, and prices of AGO came down. it was around N1600, now it is between N1000 to N1100.

“This is a deregulated economy, and every stakeholder and player should be given equal opportunity.”

Previous Post

Gates Foundation Celebrates Children’s Health and Nutrition Champions at Goalkeepers 2024: Recipe for Progress

Next Post

Fintech Stakeholders from 62 Countries Connect at 12th Africa Fintech Summit in Nairobi to Examine “Fintech in Every Industry” Theme

Related Posts

OPEC
Oil & Gas

OPEC+ Oil Producers Stick To Guns With Another Big Hike For July

June 1, 2025
Saudis say to take “big hit” on oil output for OPEC deal, Iran can freeze
Oil & Gas

OPEC+ Announces Increase In July Oil Output

May 31, 2025
Tinubu’s Government Orders Sale Of IBEDC, 4 Other Discos Within 90 Days
Oil & Gas

Tinubu Signs Executive Order On Fresh Incentives For Oil Sector

May 31, 2025
Ogoniland oil spill
Oil & Gas

Oil Rises On Venezuelan Supply Risks As OPEC+ Output Caps Gains

May 28, 2025
Next Post

Fintech Stakeholders from 62 Countries Connect at 12th Africa Fintech Summit in Nairobi to Examine “Fintech in Every Industry” Theme

Naira

Anxiety Over Naira As OPEC+ Increases Production Quota By 411,000 Bpd

June 1, 2025
OPEC

OPEC+ Oil Producers Stick To Guns With Another Big Hike For July

June 1, 2025
20 Kano Athletes, Officials Die In Road Accident While Returning From Sports Festival In Ogun

20 Kano Athletes, Officials Die In Road Accident While Returning From Sports Festival In Ogun

May 31, 2025
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Go to mobile version