Independent marketers have lifted and distributed over 25 million litres of Automotive Gas Oil, popularly called diesel, produced by the Dangote Petroleum Refinery in less than three months after the plant started releasing AGO to the market.
It was also gathered on Saturday that the registration of
oil marketers with the $20bn firm was still ongoing, as more dealers register
with the plant ahead of its readiness to push out Premium Motor Spirit, also
known as petrol, into the domestic market in July.
Marketers are also ready to begin PMS distribution from the
plant.
The Independent Petroleum Marketers Association of Nigeria,
Major Energies Marketers Association of Nigeria, and Petroleum Products Retail
Outlets Owners Association of Nigeria confirmed the registration of their
members with the Lagos-based refinery.
They also confirmed the continued lifting of diesel from the
facility, stating that this has stabilised the price of the commodity and
ensured its adequate supply since the commencement of production in March this
year.
Diesel price crashed from about N1,800/litre to N1,200/litre
after Dangote refinery released the product into the Nigerian market late March
2024, and since then the product’s availability has been guaranteed across the
country.
Commenting on the stability of diesel price and its
availability since Dangote started production, as well as the registration of
marketers with the refinery, the National Public Relations Officer, IPMAN,
Chief Ukadike Chinedu, told our correspondent that over 25 million litres of
AGO from the plant had been distributed by IPMAN members nationwide.
“Independent marketers are registering with Dangote, and
many of us have lifted a lot of product from Dangote’s depot. I’m aware of so
many marketers who have registered with the Dangote refinery.
“I can also confirm that independent marketers have loaded
over 25 million litres of diesel since the refinery started the domestic sale
of diesel to downstream oil sector operators in Nigeria,” Ukadike stated.
On April 2, 2024, oil marketers revealed that the Dangote
refinery had commenced the sale of diesel to the domestic market.
Dealers and officials of the plant also confirmed the
development at the time, as they explained that the plant actually started
diesel sales the previous week.
“They started pumping out diesel to marketers since last
week. They also promised to sell aviation fuel soon. Some of my members
confirmed this to me after making a purchase,” the National President, IPMAN,
Abubakar Maigandi, had told our correspondent at the time.
Maigandi had also stated that the move by Dangote would lead
to a crash in diesel price, as the commodity rose to a high of about
N1,700/litre at the time.
“The price of diesel is going to fall because of the release
of products from Dangote Refinery. In fact, it is already coming down in
Lagos,” Maigandi had stated.
This eventually happened after Dangote crashed diesel price
to N1,200/litre.
Although officials of the Dangote refinery have remained
silent on issues about the plant, dealers stated on Saturday that the marketers
were anxiously awaiting the release of petrol from the plant, with the hope
that this may crash the cost of the commodity.
“Marketers are loading more products from the plant and are
eager to begin the lifting of PMS from the refinery, since the Chairman of the
group has said that PMS should hit the market in July,” Ukadike stated.
He added, “I must say that it is a good thing to know that
PMS is being finalised for release from that plant. This is because since
Dangote diesel came into the market the price of diesel has not crossed the
N1,200/litre mark.
“Independent marketers even in far away northern states are
selling diesel at N1,200/litre at the pumps. So the coming of Dangote has
slowed down the skyrocketing price of diesel. Now we are expecting PMS by July
and this will end the importation of petroleum products.”