Marketers prefer Dangote Refinery as petrol depot price hits N950/ltr
Marketers prefer Dangote Refinery as petrol depot price hits N950/ltr
The Independent Marketers Association of Nigeria, IPMAN, said it has shifted loyalty to the Dangote Petroleum Refinery as the depot price of Premium Motor Spirit, PMS, also known as petrol rose by 4.7 per cent to N950 per litre, from N907 last Friday.
The development is driven by the high cost of crude oil, which rose to $80 per barrel this week from $73 per barrel last week.
Confirming the shift in loyalty in an interview with Vanguard, yesterday, the Public Relations Officer of IPMAN, Mr. Chinedu Ukadike, said: “We have encouraged our members to buy from Dangote Refinery. We cannot continue to depend on depot owners to buy our products, especially when we can buy directly from the refinery.
“The minimum quantity to buy from Dangote Refinery is two million litres at N909 per litre. We can also buy from MRS, which also distributes Dangote refinery petrol.”
Similarly, the National President, IPMAN, Alhaji Garima, said: “Our members still buy from the Nigerian National Petroleum Company Limited, NNPCL at N899.50 per litre. For now, the portal to purchase the product is closed. We buy a high volume of product from Dangote/MRS arrangement as it is cheaper.”
Marketers prefer Dangote Refinery as petrol depot price hits N950/ltr.
“Although some of our members still buy from private depots, we have advised them that the arrangement with Dangote is the best. Many also patronise MRS because of the incentive the company provides.
“For instance, if a marketer buys the product from Lagos and the product is being transported to Kano, MRS can sell at N850 per litre. That is the reason why some of our marketers that get MRS petrol can sell at N935 per litre.”
He added: “However, we advise our members to collaborate and join funds together to buy directly from Dangote Refinery. The Federal Government is no longer subsidising petrol, which explains why petrol price is no longer fixed as it used to be.”
