The reports that Dangote Refinery’s petrol price would be set at ₦600 or ₦650/litre when the product is eventually launched onto the market have been refuted.
The estimated price cited by the Independent Petroleum Marketers Association of Nigeria is based on the assumption that if the Federal Government supports the $20 billion refinery’s access to crude supplies, gasoline prices will skyrocket.
At many independent marketers’ stations, petrol is being sold at ₦700 per liter, although the Nigerian National Petroleum Company Limited (NNPCL) officially charges ₦570 per liter.
If Dangote Refinery sells the product for between ₦600 and ₦650 per liter, IPMAN does not think this is unreasonable.
However, the refinery rejected the estimated price in a statement provided to our correspondent on Wednesday, August 14, 2024, stating that IPMAN is neither its business partner nor its spokesperson.
Aside from telling the public to ignore “such speculative announcements,” the business emphasized that it has never spoken with petrol marketers on Premium Motor Spirit (PMS) pricing.
The statement says, “We have noticed headlines in Punch Newspapers on Tuesday, August 13, 2024, announcing ‘Marketers Project ₦600/litre for Dangote Petrol.'”
It is important for us to make it clear that IPMAN, the Independent Petroleum Marketers Association of Nigeria, is not currently a commercial partner. They have no mandate or authorization to speak on our behalf, either permanently or through a covert transcript, and we have never discussed the price of Premium Motor Spirit (PMS) with them.
“We implore the public to refrain from making such wild claims. We communicate our opinions to our stakeholders via our formal channels.
