16th June 2024
Independent marketers have lifted and distributed over 25 million litres of Automotive Gas Oil, popularly called diesel, produced by the Dangote Petroleum Refinery in less than three months after the plant started releasing AGO to the market.
It was also gathered on Saturday that the registration of oil marketers with the $20bn firm was still ongoing, as more dealers register with the plant ahead of its readiness to push out Premium Motor Spirit, also known as petrol, into the domestic market in July.
Marketers are also ready to begin PMS distribution from the plant.
The Independent Petroleum Marketers Association of Nigeria, Major Energies Marketers Association of Nigeria, and Petroleum Products Retail Outlets Owners Association of Nigeria confirmed the registration of their members with the Lagos-based refinery.
They also confirmed the continued lifting of diesel from the facility, stating that this has stabilised the price of the commodity and ensured its adequate supply since the commencement of production in March this year.
Diesel price crashed from about N1,800/litre to N1,200/litre after Dangote refinery released the product into the Nigerian market late March 2024, and since then the product’s availability has been guaranteed across the country.
Commenting on the stability of diesel price and its availability since Dangote started production, as well as the registration of marketers with the refinery, the National Public Relations Officer, IPMAN, Chief Ukadike Chinedu, told our correspondent that over 25 million litres of AGO from the plant had been distributed by IPMAN members nationwide.
“Independent marketers are registering with Dangote, and many of us have lifted a lot of product from Dangote’s depot. I’m aware of so many marketers who have registered with the Dangote refinery.
“I can also confirm that independent marketers have loaded over 25 million litres of diesel since the refinery started the domestic sale of diesel to downstream oil sector operators in Nigeria,” Ukadike stated.
On April 2, 2024, oil marketers revealed that the Dangote refinery had commenced the sale of diesel to the domestic market.
Dealers and officials of the plant also confirmed the development at the time, as they explained that the plant actually started diesel sales the previous week.
“They started pumping out diesel to marketers since last week. They also promised to sell aviation fuel soon. Some of my members confirmed this to me after making a purchase,” the National President, IPMAN, Abubakar Maigandi, had told our correspondent at the time.
Maigandi had also stated that the move by Dangote would lead to a crash in diesel price, as the commodity rose to a high of about N1,700/litre at the time.
“The price of diesel is going to fall because of the release of products from Dangote Refinery. In fact, it is already coming down in Lagos,” Maigandi had stated.
This eventually happened after Dangote crashed diesel price to N1,200/litre.
Although officials of the Dangote refinery have remained silent on issues about the plant, dealers stated on Saturday that the marketers were anxiously awaiting the release of petrol from the plant, with the hope that this may crash the cost of the commodity.
“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,” Ukadike stated.
He added, “I must say that it is a good thing to know that PMS is being finalised for release from that plant. This is because since Dangote diesel came into the market the price of diesel has not crossed the N1,200/litre mark.
“Independent marketers even in far away northern states are selling diesel at N1,200/litre at the pumps. So the coming of Dangote has slowed down the skyrocketing price of diesel. Now we are expecting PMS by July and this will end the importation of petroleum products.”
