Nigerian petroleum marketers have revealed that the $20 billion Dangote Refinery was not intended to provide cheaper petrol to Nigerians, contrary to widespread expectations.
The refinery's newly announced price template sets the cost of petrol at N960 per litre for ships and N990 per litre for trucks.
This pricing strategy has been met with criticism from industry stakeholders and consumers alike. Billy Gillis-Harry, President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), and Abubakar Maigandi, National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), expressed their concern.
They pointed out that the slight ex-depot price difference between Dangote Petrol and the Nigerian National Petroleum Company (NNPCL) N990 compared to N1025 per litre is insufficient to discourage the importation of fuel. "Dangote Petrol price would have been cheaper if the company meant well for Nigerians," Gillis-Harry remarked, highlighting the minimal price gap.
Maigandi further emphasized the need for Dangote to sell its petrol directly to IPMAN members, which could potentially reduce the retail price for consumers.
"Maybe Dangote is not being properly briefed about IPMAN.
In the oil industry, anyone who says he wants to fight with IPMAN will not succeed because we have 85 percent of filling stations in Nigeria," he stated, advocating for direct sales as a solution to high fuel costs.
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