Petroleum Marketers Propose N550/litre Price To Dangote
To end petrol scarcity in Lagos and its environs, Nigerian National Petroleum Company, NNPC Limited, Dangote Refinery and oil marketers have intensified efforts at taking final decisions on pricing and delivery of petrol to filling stations nationwide.
Dangote Refinery, which can refine 650,000 barrels per day, bpd of crude oil, intends to commence production and distribution of the product, the bulk of which is currently imported from the global market, in May 2024.
Checks by Vanguard over, the weekend, indicated that the parties have been meeting and exchanging notes on the pricing, distribution and margins to stakeholders in the value chain, including transporters and insurers.
Recall that depot owners buy the product from NNPC Limited at N556 per litre and sell to independents at N640 per litre.
It was, however, learnt that independent markers have proposed N550 per litre to the management of Dangote Refinery which is currently in discussion with them.
The President of the Independent Petroleum Marketers Association of Nigeria, IPMAN, Alhaji Abubakar Migandi Garima, who confirmed the development yesterday, said: “We have been discussing with Dangote Refinery. The discussion, centring on pricing, margins and other issues, is still ongoing.
“We have proposed that the lifting price should be N550 per litre in Lagos. The price of the product will differ from one part of Nigeria to another because of the distance and cost of delivering petrol to different locations.
