Independent marketers say Dangote petrol price too high

The Independent Petroleum Marketers Association of Nigeria (IPMAN) says it is more expensive to buy premium motor spirit (PMS), also known as petrol, from the Dangote Petroleum Refinery than other sources.

Yakubu Suleiman, national assistant secretary of IPMAN made this disclosure on Arise Television’s Morning Show programme on Friday.
Suleiman said members go for more affordable options at other depots across Nigeria than the high logistical costs associated with buying petrol from the Dangote refinery.

“If Dangote has a product selling for N1,000, let’s assume, and there’s another place selling for N900, we can’t just say, for the sake of our relationship with Dangote, that we’ll instruct our members to buy there. We must go where the price is lower, where we’ll get profit,” he said.

“As of last week, Dangote’s price was higher than other places.

“Crude prices are coming down internationally, but Dangote’s rate was N995 per litre, and you have to arrange for your cargo and loading. With additional costs for transport and depot fees, how can we sell it at the final outlet?

“We have to pity Nigerians. IPMAN is trying its best to support the country, especially at this difficult time when people are suffering. We want to source cheaper products to sell at affordable prices for the people.”

According to IPMAN, “What we are asking Dangote to do is to call a stakeholders’ meeting. Let him engage with IPMAN, MOMAN, and DAPMAN so that we can sit down and serve Nigerians.

“He can’t do business in isolation—he needs people, especially IPMAN, as we are the biggest off-takers in this industry.

“If Dangote sold directly to IPMAN at a fair price, fuel costs would have come down in Nigeria by now.

“We’d go straight to his refinery, pay N995 or N900, and transport it directly to our filling stations. I challenge you—if Dangote did this, you would see prices drop at our retail stations within days.”