Dangote, Marketers Clash Over Fuel Prices

3 weeks ago 13

The conflict between Dangote Refinery and Nigerian petroleum marketers has escalated, following Alhaji Aliko Dangote’s claims that marketers have not sought purchases from his facility.

This dispute began in September with the distribution of premium motor spirit (PMS), commonly known as petrol, leading to confusion in the sector.

Despite expectations for lower fuel prices due to the new refinery, consumers have seen price increases.

Many expressed their dissatisfaction, emphasizing the need for affordable fuel rather than ongoing disputes between major players.

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In a recent meeting with President Bola Tinubu regarding the naira-for-crude policy, Dangote asserted that his refinery could supply over 30 million liters of fuel daily and currently holds reserves sufficient for over 12 days.

He stated, “At full capacity, we can meet consumption needs… and we are ready to supply the market.”

However, marketers countered that they are willing to purchase from the refinery only if prices are competitive. One marketer commented, “If Dangote’s price were lower, we’d buy from him. I recently landed imports at N970 per liter, while Dangote’s rate was N977.”

The situation is further complicated for the Independent Petroleum Marketers Association of Nigeria (IPMAN), whose members report difficulties accessing products directly from Dangote Refinery despite assurances from the Minister of Finance.

Clement Isong of the Major Energy Marketers’ Association of Nigeria echoed the readiness to buy locally, emphasizing that competitive pricing is essential for market participation.

In response, Tony Chiejina from Dangote Group stated the refinery’s commitment to serve Nigerians, while consumers remain skeptical. Transport union leader Sani Yusuf called for greater transparency within the oil sector to ensure fair practices and pricing.