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‘Fuel Prices Must Drop’ – Dangote, Marketers Face Off Over Cost
The conflict between Dangote Refinery and Nigerian petroleum marketers has escalated, with Dangote Group President Aliko Dangote suggesting that marketers have shown little interest in purchasing from his refinery.
The dispute, which initially surfaced in September amid the distribution of premium motor spirit (PMS), involves the Dangote Refinery, Nigerian National Petroleum Company Limited (NNPCL), and various petroleum marketers.
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EKO HOT BLOG reports that this standoff has caused confusion and dashed public expectations for reduced fuel prices, leading to frustration among consumers seeking affordable petrol.
Dangote asserted his refinery’s capacity to produce over 30 million liters of fuel daily, with reserves of 500 million liters sufficient to meet national demand for 12 days without imports.
He suggested that reluctance from marketers could hinder efforts to lower fuel prices.
In response, marketers claimed they are prepared to buy from Dangote, provided the prices are competitive.
They argue that, in a deregulated market, every entity—including refineries—must compete for customers. “If you want customers, you need to make your terms attractive. Competition is key in an open market,” one marketer stated, highlighting that consumers have the freedom to choose where to buy.
Independent Petroleum Marketers Association of Nigeria (IPMAN) members reported challenges accessing products from Dangote, despite assurances from Finance Minister Wale Edun.
‘Fuel Prices Must Drop’ – Dangote, Marketers Face Off Over Cost
According to IPMAN President Abubakar Maigandi, members have faced obstacles in procuring fuel directly from Dangote after payment.
Meanwhile, the Major Energy Marketers’ Association of Nigeria (MEMAN) emphasized a preference for locally refined fuel to save on import costs.
MEMAN’s Executive Secretary, Clement Isong, stated that competitive pricing would enable marketers to pass savings on to consumers, aligning with their preference for naira-based production to cut down freight expenses.
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