Marketers reveal how much Dangote Refinery should sell petrol

• The Independent Petroleum Marketers Association of Nigeria (IPMAN) has asked Dangote Refinery to little the petrol prices further
• The relation said that the existent N825 per litre ex-depot terms is not inexpensive enough, considering the operating environment
• Chinedu Ukadike, IPMAN’s publicity secretary, said petrol from the refinery should merchantability beneath N750 per litre

Legit.ng’s Pascal Oparada has reported connected tech, energy, stocks, concern and the economy for implicit a decade.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has projected a caller PMS terms for the Dangote Refinery.

The relation said the mega refinery should merchantability petrol beneath the existent N825 per litre ex-depot price.

Marketers accidental petrol from Dangote Refinery is not inexpensive enough. Credit: Bloomberg/Contributor
Source: Getty Images

IPMAN petition a caller petrol price

IPMAN’s publicity secretary, Chinedu Ukadike, disclosed this recently, stating that the refinery has each the enabling reasons to merchantability petrol beneath the existent gantry price.

The IPMAN scribe was reacting to a remark by Aliko Dangote, Chairman of the Dangote Group, successful which helium said that his refinery has contributed to a continued diminution successful substance prices, starring to Nigerians paying 55% little than different West African countries.

Ukadile said, contempt Dangote’s assertion, petrol should beryllium acold cheaper successful Nigeria astatine astir N750 per litre.

Nigerians bargain petrol cheaper than others

Punch reports that Ukadike said galore West African countries bash not nutrient crude lipid oregon person refineries processing crude successful section currencies.

The IPMAN scribe said that the Dangote Refinery has helped Nigerians flooded incessant substance scarcity and agelong queues astatine filling stations, asking the Nigerian authorities to boost the naira to marque substance affordable.

The IPMAN authoritative said that comparative to the facilities, amenities, and enabling situation fixed to Dangote, petrol from his refinery is not inexpensive enough.

He disclosed that PMS from the works should beryllium astir N770, saying that, adding to the landing, Dangote should merchantability his petrol acold cheaper than the existent price.

IPMAN pushes for N750 per litre

Ukadike predicted that if the naira rises to N1,100 per dollar, petrol should beryllium sold beneath N750 per litre.

He said if the section currency appreciates to N1,200, petrol prices volition clang beneath N750 per litre.

Dangote explains the interaction of his refinery

Legit.ng reported that Dangote had said that astir Nigerians were unaware that they wage 55% little than different West African countries.

The Nigerian billionaire added that his refinery helped to trim petrol prices by selling the merchandise betwixt N815 and N820 per litre.

The industrialist disclosed this during a sojourn to the mega refinery by the President of the Economic Community of West African States (ECOWAS), Omar Touray.

Dangote explained however the refinery has helped Nigeria to trim the outgo of refined petroleum products and accumulation costs crossed respective sectors.

He cited the clang successful diesel prices by his refinery from N1,700 per litre to N1,100 and consequent terms adjustments.

Aliko Dangote compares petrol prices successful West Africa, says Nigerians are paying less. Credit: Bloomberg/Contributor
Source: UGC

The Kano-born billionaire said the simplification has impacted respective sectors, supporting industries, benefiting mining companies, and providing alleviation to the cultivation sector.

Dangote Refinery emerges apical purchaser of US crude

Legit.ng earlier reported that the mega Dangote Refinery is progressively turning to the US for crude lipid supplies, pursuing home shortfalls.

Experts person described the allocation of 350,000 barrels per time to the refinery by the Nigerian National Petroleum Company Limited (NNPC) to the refinery arsenic a driblet successful the ocean.

They disclosed that the Domestic Crude Supply Obligation (DCSO) contained successful the Petroleum Industry Act (PIA) is not capable for section refiners.

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Source: Legit.ng