Oil marketers are expressing concerns over the delayed announcement of the petrol price from the Dangote Petroleum Refinery, as the current landing cost of imported Premium Motor Spirit (PMS) has surged to ₦1,120 per litre. A high price from Dangote could push marketers to import fuel, especially since the market is now open for competition.
Abubakar Maigandi, President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), said they are awaiting price data from foreign partners and may opt for importation if it proves cheaper. This comes as petrol prices in Nigeria have spiked, with independent dealers already selling above ₦1,000 per litre.
Meanwhile, a Dangote Group official assured that Aliko Dangote is committed to lowering fuel prices in Nigeria, citing previous reductions in diesel prices as an example. However, the refinery has yet to finalize arrangements with the Nigerian National Petroleum Company (NNPC), which has indicated it will only buy from Dangote if the refinery’s prices are lower than international market rates.
