Saturday, 02 November 2024 04:59

IPMAN accuses Dangote Refinery of selling fuel at prices higher than even imported products

Rate this item
(0 votes)

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has voiced concerns over the high logistical costs associated with purchasing petrol from the Dangote refinery, leading members to seek more affordable alternatives at other depots nationwide.

IPMAN Secretary Suleiman stated, “If Dangote sets a price at N1,000 per litre and another supplier offers it for N900, we can’t prioritize our relationship with Dangote over profitability. We have to buy where the prices are lower.” He noted that last week, Dangote’s price was N995 per litre, while crude prices globally are on the decline. With additional transport and loading costs, he questioned how they could sell at competitive prices.

Suleiman emphasized the need to support Nigerians during tough economic times by sourcing cheaper fuel. He also criticized Aliko Dangote for not engaging with key stakeholders in the fuel supply chain, which he believes has hindered independent marketers’ access to the refinery.

“Dangote should convene a stakeholders’ meeting with IPMAN, MOMAN, and DAPMAN to collaboratively address these issues,” Suleiman urged. He argued that direct sales to IPMAN at a fair price would significantly reduce fuel costs across Nigeria.

Despite repeated attempts to engage with Dangote, Suleiman lamented that IPMAN’s outreach efforts have gone unanswered, as they seek a partnership that could benefit both the refinery and the marketers.

On October 29, Dangote announced that the refinery has over 500 million litres of petrol available, but oil marketers have not been purchasing the product. In a rebuttal, IPMAN claimed its members have faced delays in loading petrol, alleging that a N40 billion payment to the Nigerian National Petroleum Company (NNPC) was made.

In response, the Dangote refinery stated it has not received any payment from IPMAN for refined products, underscoring the ongoing tension between the two parties.

December 10, 2024

Jeff Bezos on meetings: ‘I’m skeptical If it’s not messy’

If you ever find yourself in a meeting with Jeff Bezos, don’t expect the Amazon…
December 09, 2024

Ghana's former president wins election

Ghana's former President John Dramani Mahama has staged a political comeback by winning the West…
December 08, 2024

5 quick, simple ways to calm your mind—including 1 that ‘puts a brake on the stress response,’ doctor says

Renee Onque Meditating is a proven way to reduce stress, improve sleep and keep you…
November 30, 2024

Family spends $4,500 on lavish funeral for ‘faithful’ SUV

An Indian family recently went viral for their decision to send their old Suzuki Wagon…
December 07, 2024

Bombs planted by terrorists go off in Zamfara communities; third incident in a week

At least two explosive devices believed to have been planted by terrorists went off at…
December 10, 2024

What to know after Day 1020 of Russia-Ukraine war

Western Perspective: Zelensky Pushes for Diplomatic Resolution, Considers Foreign Troops Ukrainian President Volodymyr Zelensky has…
December 10, 2024

OpenAI launches Sora, its text-to-video AI model

OpenAI has expanded its artificial intelligence capabilities by releasing Sora, its text-to-video generative AI model,…
October 27, 2024

Nigeria awarded 3-0 win over Libya after airport fiasco

Nigeria have been awarded a 3-0 victory over Libya, and three vital points, from their…

NEWSSCROLL TEAM: 'Sina Kawonise: Publisher/Editor-in-Chief; Prof Wale Are Olaitan: Editorial Consultant; Femi Kawonise: Head, Production & Administration; Afolabi Ajibola: IT Manager;
Contact Us: [email protected] Tel/WhatsApp: +234 811 395 4049

Copyright © 2015 - 2024 NewsScroll. All rights reserved.