Nigerian petrol marketers are calling for Dangote Refinery to reveal the price of its Premium Motor Spirit (PMS), commonly known as petrol. This push for transparency comes after remarks from Devakumar Edwin, Vice President of Dangote Industries, who suggested that local marketers are bypassing Dangote’s petrol despite its reportedly lower price compared to imported options.
Billy Gillis-Harry, President of the Products Retail Outlets Owners Association, and Abubakar Maigandi, President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), both voiced concerns about not having the price details for Dangote’s petrol. According to Gillis-Harry, marketers are eager to partner with Dangote Refinery if the pricing is fair and competitive. However, without knowing the exact price, they are hesitant to switch from their current suppliers.
Gillis-Harry pointed out that the lack of a clear price list from Dangote Refinery makes it challenging for marketers to assess the benefits of purchasing from Dangote versus sticking with imported petrol. He emphasized the need for transparency in pricing to ensure a fair business relationship.
Maigandi also echoed concerns about the absence of pricing information. He clarified that the notion of a boycott is inaccurate, explaining that marketers are simply waiting for price details before making any purchasing decisions. He highlighted that they are open to buying from Dangote Refinery, provided that the price is not higher than what they currently pay for petrol from other sources.
Maigandi noted that petrol prices vary depending on location, which adds another layer of complexity to the decision-making process. Marketers are keen to work with Dangote Refinery if the prices are reasonable and align with their current expenditures.
Aliko Dangote, President of Dangote Group, had previously announced that the price of the refinery’s petrol will be determined by the Federal Executive Council, under the leadership of President Bola Ahmed Tinubu. This statement has left many in the industry awaiting further details before making any concrete decisions regarding their petrol sources.
In summary, Nigerian petrol marketers are eagerly awaiting price transparency from Dangote Refinery. They believe that with clear and competitive pricing, they can make informed decisions and potentially shift their purchases to Dangote’s petrol, thus supporting local production over imported options.
