The Dangote Petroleum Refinery has initiated a direct supply of Premium Motor Spirit (PMS), commonly known as petrol, to oil marketers, effectively bypassing the Nigerian National Petroleum Company Limited (NNPC).
PMS production at the Dangote Refinery commenced on September 15, with the NNPC initially designated as the sole off-taker. However, following the Federal Government's decision to fully deregulate the market, marketers are now empowered to negotiate prices directly with refineries.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) is committed to collaborating with Dangote Refinery. IPMAN's Vice President, Hammed Fashola, announced this during a recent meeting with Devakumar Edwin, the Vice President of Dangote Industries, in Lagos.
We are joined by Chinedu Ukadike, the National Publicity Secretary of IPMAN, to provide further insights into this development. Stay tuned for an in-depth discussion on the implications of this shift in the oil market and its potential impact on consumers and the industry.
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