The Petroleum Marketers Association of Nigeria (IPMAN) has urged Aliko Dangote to reevaluate the price of Premium Motor Spirit (PMS) from his refinery, suggesting it might be a key factor in low patronage from marketers. IPMAN’s call for a price review follows Dangote’s statement that despite having over 500 million liters of petrol stored at his refinery, fuel marketers are not sourcing from his facility.
Speaking on Channels Television’s Sunrise Daily program, IPMAN President Abubakar Garima recommended that Dangote examine whether his pricing is competitive. “Since he says marketers are not buying his product, he should check his price properly. Is it higher than what they are obtaining outside or is it the same rate?” Garima questioned, also highlighting logistical concerns like delivery times to marketers’ depots as another important factor.
Garima also raised issues regarding access to petrol from the Dangote Refinery. He revealed that IPMAN members are unable to load petrol from the Lagos-based facility, despite having ₦40 billion in prepaid funds with the Nigerian National Petroleum Company Limited (NNPCL). According to Garima, recent attempts by some marketers to load at the Dangote Refinery saw them waiting with their trucks for four days without success.
IPMAN’s stance underscores the broader challenges in Nigeria’s fuel distribution network and highlights the role of competitive pricing and efficient distribution in the industry’s dynamics.
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