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George Oshogwe Ogbolu
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As Nigerians continue to groan over the recent increase in fuel prices by the Nigerian National Petroleum Company (NNPC) Limited, Naija News brings you the latest update on petrol scarcity, fuel price increase and Govt/citizens’ reactions.
Fuel Price: IPMAN Gives Latest Update On Agreement With Dangote
The National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, has reassured Nigerians that discussions with Dangote Refinery for direct petrol loading from the 650,000-barrel-per-day refinery are progressing well and will be finalized soon.
Naija News reports that Maigandi confirmed that negotiations are ongoing with Dangote Refinery on all necessary arrangements, expressing confidence that a deal will be reached shortly.
Speaking at the inauguration of a task force for monitoring and preventing oil bunkering, pipeline vandalism, and other sharp practices in Abuja on Wednesday, Maigandi also revealed that IPMAN had resolved its pricing dispute with the Nigerian National Petroleum Company Limited (NNPCL) and is now focused on securing a partnership with Dangote.
“We are pleased to announce that we are close to finalizing arrangements to lift petrol directly from Dangote Refinery. We have received our funds back from NNPCL, and we are now negotiating with Dangote and other partners to begin direct product sourcing from the refinery,” Maigandi stated.
He noted that the ongoing negotiations with Dangote Refinery were initiated after an intervention by the Director-General of the Department of State Services (DSS).
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has been instructed to issue IPMAN the necessary import and off-take licenses.
Fuel Scarcity Persists As FG Halts Dangote’s Direct Sale To Marketers
Fuel queues in parts of Lagos and other states continue to expand due to a significant shortfall in the supply of Premium Motor Spirit (PMS), commonly known as petrol.
Numerous filling stations across the city have been without fuel for weeks, placing immense pressure on the few stations still providing fuel.
The situation has worsened traffic, as many motorists occupy multiple lanes while waiting for petrol.
Several fuel marketers, speaking anonymously to Daily Sun, reported that fuel distribution from Dangote is insufficient to meet local demand.
This claim aligns with an earlier statement from the Nigerian National Petroleum Company Limited (NNPCL).
On September 15, when the Dangote refinery began supplying PMS to domestic marketers, NNPCL confirmed that 16.8 million litres of petrol were loaded from the refinery—well below the 25 million litres per day that the refinery initially promised to supply NNPCL.
“I can confirm that Dangote’s daily output is less than 15 million litres, which is far short of the 40 million litres required domestically,” a source said.
NNPC Still Sole Dangote Petrol Buyer – Marketers
The Nigerian National Petroleum Company Limited (NNPCL) continues to operate as the sole off-taker of Premium Motor Spirit (PMS), commonly known as petrol, from the Dangote Petroleum Refinery, despite recent directives from the Federal Government allowing other oil marketers to begin loading petrol from the plant.
On Wednesday, oil marketers confirmed that NNPC will retain its exclusive off-taker status for PMS from the $20 billion Lekki-based refinery until its existing agreement with Dangote refinery concludes.
However, specifics regarding the duration of this agreement remain unclear, as officials from both NNPC and the Dangote refinery have not provided information on when it will end.
This development follows an announcement made on October 11, 2024, by the Federal Government through a statement from the finance ministry, which declared that oil marketers were now permitted to negotiate the purchase of petrol directly from the Dangote refinery, bypassing the NNPC.
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