Economy

Dangote Refinery Clarifies: No Direct Sales to IPMAN Without NNPC Approval

Written by Agboola Oluwafemi on November 1, 2024

News Views: 299

The Dangote Petroleum Refinery has stated that it has not received authorization from the Nigerian National Petroleum Company Limited (NNPC) to supply Premium Motor Spirit (PMS), or petrol, to the Independent Petroleum Marketers Association of Nigeria (IPMAN). This announcement follows complaints from oil dealers demanding the refinery disclose its petrol pricing.

IPMAN’s National President, Abubakar Maigandi, revealed that members were unable to lift petrol for nearly four days despite the refinery reportedly holding over 500 million litres. He stated, “If the refinery truly has 500 million litres, then there should be no reason our members couldn’t load after four days. We’re willing to buy the product directly if the refinery is ready to sell to us, but for now, our members can’t access it even after paying.”

Billy Gillis-Harry, President of PETROAN, supported Maigandi’s claims, indicating that efforts to engage with the refinery have been unproductive. “We have listened to him (Dangote) and as far as I’m concerned what he said is very strange to my hearing. PETROAN had written to him since 2022… but no way up till now,” Gillis-Harry stated.

In a response, Anthony Chiejina, Chief Branding and Communications Officer for Dangote Group, clarified that no payments have been received from IPMAN, asserting that payments made were directed to NNPC. He emphasized, “Although discussions are ongoing with IPMAN, it is misleading to suggest that they (IPMAN members) are experiencing difficulties loading refined products from our petroleum refinery, as we currently have no direct business dealings with them.”

Chiejina also highlighted the refinery’s capacity, stating, “We would like to emphasise that we can meet the nation’s demand for all petroleum products, including petrol, diesel, and aviation fuel.” He encouraged IPMAN to register and make direct payments to access the products.

The National Headquarters of PETROAN urged Dangote to announce the price of its PMS, with Dr. Joseph Obele, the National Publicity Secretary, expressing that a favorable pricing announcement could attract more buyers. “If he had announced a favourable or attractive selling rate at that press conference, such an announcement could have caused traffic at his facility by this hour,” Obele noted.

Meanwhile, the Major Energies Marketers Association of Nigeria (MEMAN) reassured the public that there is enough petrol available and cautioned against panic buying. CEO Clement Isong remarked, “MEMAN wishes to assure the general public… that we have significant stocks of products.” He added that marketers can now plan and book supplies to avoid shortages, emphasizing, “We urge the public not to panic-buy petroleum products.”

Lastly, MEMAN reported the landing costs as of October 31, 2024: petrol at N978.01 per litre, diesel at N1,069.97 per litre, and aviation fuel at N1,119.67 per litre.