The Independent Petroleum Marketers Association of Nigeria (IPMAN) says it is more expensive to buy petrol from the Dangote Petroleum Refinery than other sources, according to BusinessDay. Yakubu Suleiman, the national assistant secretary of IPMAN made this disclosure on Arise Television’s Morning Show programme on Friday. Suleiman said members go for more affordable options at other depots across Nigeria than the high logistical costs associated with buying petrol from the Dangote refinery.
“If Dangote has a product selling for ₦1,000, let’s assume, and there’s another place selling for ₦900, we can’t just say, for the sake of our relationship with Dangote, that we’ll instruct our members to buy there. We must go where the price is lower, where we’ll get profit,” he said.
“As of last week, Dangote’s price was higher than other places. Crude prices are coming down internationally, but Dangote’s rate was ₦995 per litre, and you have to arrange for your cargo and loading. With additional costs for transport and depot fees, how can we sell it at the final outlet?
“We have to pity Nigerians. IPMAN is trying its best to support the country, especially at this difficult time when people are suffering. We want to source cheaper products to sell at affordable prices for the people,” he added.
IPMAN then urged Dangote to call a stakeholders’ meeting and engage with IPMAN, MOMAN, and DAPMAN, to serve Nigerians better.
According to Suleiman, “If Dangote sold directly to IPMAN at a fair price, fuel costs would have come down in Nigeria by now. We’d go straight to his refinery, pay ₦995 or ₦900, and transport it directly to our filling stations. I challenge you—if Dangote did this, you would see prices drop at our retail stations within days.”
