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BUSINESS

Dangote to Meet Oil Marketers as Dealers Demand N850/Litre Diesel

April 10, 2024 • 2 min read

The founder of Dangote Petrochemical Refinery, Aliko Dangote, will meet with marketers next week to discuss the pricing of petroleum products from the refinery and other issues.

The decision was reached after the marketers under the aegis of the Independent Petroleum Marketers Association of Nigeria (IPMAN) and Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) held separate meetings on Monday.

The marketers also called for a downward review in the pump price of the Automotive Gas Oil, popularly called diesel, produced by the Dangote refinery between N700 and N850/litre.

In a chat with The Punch, an IPMAN official said the N1,225/litre diesel price from the indigenous refinery was high because the commodity was produced in Nigeria and not imported.

The marketers called for the intervention of the Federal Government and urged the managers of the refinery to consider the high cost of logistics required to transport the product from Lagos, where the refinery is located.

They pointed out that some importers are landing the product in Nigeria at N1,250/litre following the appreciation of the naira against the dollar, adding that this should be another reason for the Dangote refinery that produces diesel in Nigeria to cut down its price.

According to the oil marketers, diesel produced at the Dangote refinery does not incur vessel costs, import charges, or other costs associated with importing the commodity into Nigeria.