The Independent Petroleum Marketers Association of Nigeria has speculated that the price of petrol will drop if the $20 billion refinery receives crude supply support from the Federal Government, as this is expected to increase production and lead to a reduction in prices.
Petrol currently sells at ₦700/litre at many independent marketers’ stations while the official price from the Nigerian National Petroleum Company Limited (NNPCL) is around ₦570/litre.
IPMAN believes it is not outrageous if Dangote Refinery sells the product between ₦600 and ₦650/litre.
However, in a statement sent to Pulse Nigeria on Wednesday, August 14, 2024, the refinery dismissed the speculated price, saying IPMAN is neither its business partner nor its mouthpiece.
The company also urged the public to disregard “such speculative announcements,” stressing it has never discussed the price of Premium Motor Spirit (PMS) with petrol marketers.
The statement reads, “Our attention has been drawn to headlines announcing “Marketers Project ₦600/litre for Dangote Petrol” published in Punch Newspapers on Tuesday, August 13, 2024.
“We would like to clarify that the Independent Petroleum Marketers Association of Nigeria (IPMAN) is not our business partner yet. We have never discussed the price of Premium Motor Spirit (PMS) with them, and they have no mandate or authority to speak for us, either for good or with the hidden transcript.
“We urge the public to desist from such speculative announcements. We have official channels to make our views known to our stakeholders.”
