Litre price slash expected
The 650,000 barrels per day (bpd)-capacity Dangote Petroleum Refinery has finally rolled out with the sale of Automotive Gas Oil (AGO), otherwise known as diesel.
The Nation learnt that the sale of the product from the refinery began yesterday.
A source, who asked not to be identified, said the product was sold directly to some marketers at N1, 200 per litre.
The pump price of diesel, as at yesterday was N1, 500 per litre at the filling stations.
But the National Vice President, Independent Petroleum Marketers Association of Nigeria (IPMAN), Alhaji Abubakar Maigandi, said the approved distributors were yet to be notified of the price of the product.
In a telephone chat with The Nation, Maigandi said: "The refinery has not informed us about the price of the AGO. We are all waiting to know it," adding that the company would likely commence the sale today (yesterday).
The IPMAN boss said the last directive the association got from the refinery was its plan to sell a minimum of one million litres to each marketer.
"The least volume a marketer can buy is one million letter," Maigandi, said, adding that there were strong indications that the refinery would commence the sale of the product today (yesterday).
"Even now, as I dropped the call, someone was telling me they wanted to start," the IPMAN chief stated.
It was, however gathered, that some marketers who lifted the product directly got it at N1, 200 per litre, thus fueling speculations that the price may crash from N1, 500.
However, the expectation that the price would drop drastically as envisaged by many, remained in the realm of speculation. The Nation learnt that they are rolling out, but for now they are dealing directly with major marketers.
Dangote Group Chief Communications Officer, Anthony Chiejina, could not confirm the development when contacted. A text message sent to his telephone seeking his more information, was not returned as at the time of going to press.
The company had last year announced its commencement of production, having stockpiled about six million barrels of crude oil from the Nigerian National Petroleum Company Limited (NNPCL) and other international oil and gas companies,.
Besides, the refinery notified the public in January, 2024 that it was to begin production with the aviation fuel and diesel before advancing to the Premium Motor Spirit (PMS), otherwise known as petrol
In January, the refinery listed members of the IPMAN, Major Oil Marketers Association of Nigeria (MOMAN) and Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) as its approved distributors.
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