The Independent Petroleum Marketers Association of Nigeria is poised for talks with Dangote Petroleum Refinery between Tuesday and Wednesday to finalise agreements on the cost and lifting of petrol from the plant.
It was learnt on Sunday that the Petroleum Retail Outlet Owners Association of Nigeria had been asked by the $20bn Lekki-based refinery to resend its request for petrol lifting.
This came as PETROAN expressed optimism that the cost of petrol might reduce in the coming days once the competition in the downstream oil sector sets in fully, as marketers load the commodity from the refinery.
Meanwhile, IPMAN described the planned agreement with the Dangote refinery as a crucial step in the association’s ongoing efforts to facilitate the lifting of petroleum products, thereby contributing to the stability and efficiency of the country’s fuel supply chain.
Last week, the Federal Government granted permission to petroleum marketers to lift petrol directly from the Dangote refinery without going through the Nigerian National Petroleum Company Limited.
The Minister of Finance and Chairman of the Naira-crude sale implementation committee, Wale Edun, had in a statement, said, “Moving forward, petroleum product marketers are now able to purchase PMS (petrol) directly from local refineries without the intermediary role of NNPC.
“Marketers are encouraged to initiate direct purchases from refineries on mutually negotiated commercial terms, which will promote competition and improve market efficiency.”