Major Marketers Start Petrol Lifting from Dangote Refinery
The Nigerian National Petroleum Company Limited, NNPCL, has given authorization to major petroleum marketers to start lifting premium motor spirit, petrol, from Dangote Petroleum Refinery. These marketers, including 11 Plc, have begun distributing the product from the refinery as per the existing agreement with NNPC. However, independent marketers have not been included in this modified arrangement according to the National President of Independent Petroleum Marketers Association of Nigeria, IPMAN.
IPMAN is waiting for NNPCL to provide them with the new price of petroleum products to start purchasing from them. Meanwhile, major marketers have expressed their interest in importing and competing with NNPC and Dangote by urging the Federal Government to open up the sector to all players. The Chief Executive Officer of the Centre for the Promotion of Private Enterprise emphasized the importance of transparency in the lifting arrangement with major marketers.
As the situation continues to unfold, independent petroleum marketers are considering importing their own petrol to sustain their business operations in the face of the ongoing developments. Time will tell how this will impact the market dynamics.
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