The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced plans to engage in discussions with Dangote Refinery regarding its petrol pricing strategy and distribution. This was revealed by the President of IPMAN, Abubakar Maigandi, in an exclusive interview with DAILY POST on Thursday.
Maigandi's comments came in response to claims made by Devakumar Edwin, Vice President of Dangote Industries Limited. Edwin had suggested that local petroleum marketers were avoiding purchasing petrol from the Dangote Refinery, despite the refinery offering lower prices compared to other suppliers.
In addressing this issue, Maigandi firmly dismissed the idea that marketers were intentionally boycotting the refinery. He clarified that there was no reason for such actions if the refinery could indeed offer competitive pricing. According to him, IPMAN has been in talks with Dangote Refinery and is open to doing business, provided the petrol prices offered are at least equal to, or lower than, what marketers currently pay from other sources.
Maigandi confirmed that IPMAN had received a formal letter from Dangote Refinery on Wednesday, indicating an interest in partnership. The association reviewed this proposal during its Thursday meeting. However, while the letter mentioned that the refinery was ready to begin supplying petrol (Premium Motor Spirit, PMS), no specific pricing was included. Despite this omission, Maigandi emphasized that marketers would not hesitate to purchase petrol from Dangote Refinery if the price met their expectations.
“There’s no question of us boycotting the refinery," Maigandi explained. "If Dangote Refinery offers petrol at a cheaper rate, why would marketers refuse to buy? We are prepared to do business with Dangote Refinery as long as their prices are not higher than what we are currently paying."
He went on to explain that petrol marketers are currently buying from the Nigerian National Petroleum Company Limited (NNPCL) at an average price of N870 per liter, while depot prices stand at around N990 per liter. Maigandi reiterated that IPMAN’s goal is to ensure its members are receiving petrol at competitive rates, wherever it comes from, including Dangote Refinery.
In summary, IPMAN is keen on fostering a productive relationship with Dangote Refinery but insists that pricing will remain the primary factor in determining their purchasing decisions. The association's stance is clear: as long as Dangote offers competitive rates, it will have the full cooperation of local petroleum marketers.
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