Independent marketers have distributed over 25 million litres in less than three months since the Dangote Petroleum Refinery began releasing Automotive Gas Oil (diesel) into the market.
The $20 billion venture has continued to register more oil marketers as it prepares to introduce Premium Motor Spirit (PMS), also known as petrol, to the domestic market next month.
The Independent Petroleum Marketers Association of Nigeria (IPMAN), Major Energies Marketers Association of Nigeria, and Petroleum Products Retail Outlets Owners Association of Nigeria confirmed the ongoing registration of their members with the Lagos-based refinery.
These organizations have also verified the consistent lifting of diesel from the refinery, which has stabilized the price and ensured an adequate supply since production commenced in March 2024.
Diesel prices have dropped significantly from about N1,800/liter to N1,200/liter following the release of the product by the Dangote refinery in late March.
This price stability and product availability have been a direct result of the refinery’s operations.
Chief Ukadike Chinedu, the National Public Relations Officer of IPMAN, stated, “Independent marketers are registering with Dangote, and many of us have lifted a lot of products from Dangote’s depot. I’m aware of so many marketers who have registered with the Dangote Refinery.
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I can also confirm that independent marketers have loaded over 25 million liters of diesel since the refinery started the domestic sale of diesel to downstream oil sector operators in Nigeria.”
On April 2, 2024, oil marketers announced that the Dangote refinery had begun selling diesel to the domestic market.
This development was confirmed by dealers and officials of the plant, noting that the sales had commenced the previous week.
Abubakar Maigandi, the National President of IPMAN, remarked at the time, “The price of diesel is going to fall because of the release of products from Dangote Refinery.
It is already coming down in Lagos.” This prediction was realized as diesel prices dropped to N1,200/liter.
Although officials from the Dangote refinery have remained tight-lipped on the plant’s operations, dealers expressed anticipation for the release of PMS, which is expected to reduce the commodity’s cost further.
Chief Ukadike added, “Marketers are loading more products from the plant and are eager to begin the lifting of PMS from the refinery since the Chairman of the group has said that PMS should hit the market in July.
The introduction of Dangote diesel has stabilized prices, and the arrival of PMS will likely end the importation of petroleum products.”
The continuous efforts by the Dangote refinery and independent marketers are set to transform Nigeria’s oil22 sector, promising a more stable and self-sufficient domestic fuel market.
