••• Oil Dealers Confirm Commencement of Petrol Lift from Lagos-Based Multi-Billion Dollar Plant
Oil marketers have confirmed that they will start loading Premium Motor Spirit (petrol) from the Dangote Petroleum Refinery next week. Some marketers revealed that they had already started sending trucks to the Lagos-based multi-billion dollar plant to load products from Sunday, while others stated that their tankers would arrive at the refinery any day from next week.
Although the President of Dangote Group, Alhaji Aliko Dangote, recently announced that only NNPC would lift PMS from the Dangote refinery at the moment, oil marketers stated that they had already commenced moves to load their trucks with petrol from the plant. The initial daily supply from the refinery is anticipated to be 25 million litres.
Some dealers are expecting imported petrol before the end of this month, with vessels of major marketers expected to arrive in the country in the next 10 days. The deregulation of PMS prices has set in fully, and nobody wants to be at the whims and caprices of NNPC again.
There is no agreement on the price of Dangote petrol yet, but dealers expect to gear up for a price of about N1,200/litre, even from the depots. Many are planning to import PMS to stimulate competition. The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, had declared that the downstream oil sector had been fully deregulated, and the government was not fixing petroleum products’ prices again.
NNPC had raised the pump prices of petrol from about N620/litre to as high as N855 and N897/litre depending on the area of purchase.
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Another dealer confirmed that plans were being perfected to begin the loading of petrol from the Dangote refinery next week, but could not confirm if NNPC would also start loading PMS from Dangote refinery next week.
The National President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, confirmed that many marketers had commenced moves to import petrol and load from the Dangote refinery. However, he did not state the price of the product being expected from the $20bn Lekki-based refinery, stressing that discussions were still ongoing.
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