The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced a shift in focus toward sourcing petrol directly from the Dangote Petroleum Refinery, as the depot price of Premium Motor Spirit (PMS) surged by 4.7%, reaching N950 per litre, up from N907 last Friday.
This price hike is attributed to rising crude oil costs, which jumped from $73 per barrel last week to $80 per barrel this week.
Speaking to Vanguard, IPMAN’s Public Relations Officer, Mr. Chinedu Ukadike, explained, “We have encouraged our members to purchase directly from Dangote Refinery. Relying on private depot owners is no longer sustainable when we can get the product directly at a better price.”
He disclosed that the refinery offers petrol at N909 per litre with a minimum purchase of two million litres.
Members also have the option to buy from MRS, which distributes products from the Dangote Refinery.
IPMAN’s National President, Alhaji Garima, confirmed that members continue to purchase PMS from the Nigerian National Petroleum Company Limited (NNPCL) at N899.50 per litre.
However, he noted that purchases from the Dangote-MRS arrangement are often more cost-effective.
“Many of our members prefer MRS because of the incentives offered. For example, MRS sells at N850 per litre for petrol transported from Lagos to Kano, allowing marketers to sell at N935 per litre,” Garima said.
He further advised marketers to pool resources to purchase directly from the refinery, emphasizing that the end of petrol subsidies has led to a more flexible pricing system.
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