New fuel price expected as marketers update negotiations with Dangote Refinery

The price of Premium Motor Spirit (PMS), or gasoline, may soon alter for Nigerians. This is because the Independent Petroleum Marketers Association of Nigeria (IPMAN) has revealed that talks to acquire a direct gasoline supply with Dangote Refinery are still underway.

This comes following last week’s increases in gas prices by NNPC retail outlets to N1,030 per litre in Abuja and N998 per litre in Lagos. Similar price increases were seen in other places as well.

The national president of IPMAN, Abubakar Maigandi, reports that the talks with Dangote Refinery are going well and that an agreement is soon to be reached.

This was revealed by Maigandi on Wednesday during the opening of a taskforce team dedicated to monitoring and surveillance in order to stop oil bunkering, pipeline vandalism, and adulteration of petroleum products in Abuja.

He was upbeat that the deal with Dangote Refinery will soon be finalized, guaranteeing a direct supply of refinery goods.

“We are happy to announce that we are nearing the completion of our agreements with Dangote Refinery to remove PMS straight from their facility,” he stated.

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“We have already gotten our money back from NNPCL, and our current priorities are talks with Dangote and other partners.

“We’re still talking with Dangote about getting a direct supply of products from the refinery.”

Remember that price disputes between marketers and the Nigerian National Petroleum Company Limited (NNPCL) were previously resolved? NNPCL decided to give marketers a N3 discount on the ex-depot price of gasoline, bringing it down to N955 per litre. Furthermore, as of late, the federal government declared that oil marketers can now make direct purchases from the Dangote refinery.