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  • Business - Economy
  • Updated: June 16, 2024

IPMAN members distribute Dangote Refinery 25m liters of Diesel, as marketers get set for PMS push out

IPMAN members distribute Dangote Refinery 25m liters of Dies

In a significant development, independent marketers have distributed over 25 million liters of diesel produced by the Dangote Petroleum Refinery in less than three months, effectively stabilizing the market and crashing prices from N1,800/litre to N1,200/litre. 

This milestone is a testament to the refinery's capacity to meet the demands of the domestic market and alleviate the burden of diesel scarcity in Nigeria.

According to Chief Ukadike Chinedu, National Public Relations Officer, IPMAN, "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. This has not only stabilized the price of diesel but also ensured its adequate supply across the country."

The impact of Dangote Refinery's production on the diesel market has been significant, with prices crashing by over 33% since the commencement of production in March 2024. This has brought relief to consumers and businesses that rely heavily on diesel for their operations.

Marketers are now eagerly awaiting the release of petrol from the plant, expected in July, which is hoped to crash the cost of the commodity and further alleviate the burden of fuel scarcity in Nigeria. 

"Marketers are loading more products from the plant and are eager to begin the lifting of PMS from the refinery... This is because since Dangote diesel came into the market, the price of diesel has not crossed the N1,200/litre mark," Ukadike stated.

The registration of oil marketers with the Dangote refinery is ongoing, with more dealers registering ahead of the plant's readiness to release petrol into the domestic market. The Independent Petroleum Marketers Association of Nigeria, Major Energies Marketers Association of Nigeria, and Petroleum Products Retail Outlets Owners Association of Nigeria have confirmed the registration of their members with the refinery.

This development is seen as a significant step towards achieving self-sufficiency in petroleum products production in Nigeria, and Dangote Refinery is leading the charge. With its production capacity and strategic location, the refinery is poised to play a key role in meeting the energy needs of Nigeria and the West African region.

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