In the oil industry, stakeholders recently declared that there has never been a boycott of petrol from the Dangote Refinery. According to Olufemi Adewole, Executive Secretary, Petroleum Products Marketers and Distributors Association of Nigeria, it is crucial to get the modalities right.
It is critical that the sector operates transparently to enable all stakeholders thrive and contribute meaningfully to ensuring the availability, reliability and affordability of petroleum products nationwide.
Also, the Federal Government has revealed that the supply of petrol from the Dangote Refinery will commence tomorrow after the two parties reached an agreement on pricing and supply.
According to a member of the Presidential Committee on the Sale of Crude Oil and Refined Products, and Chairman of the Federal Internal Revenue Service, Zacch Adedeji, NNPC will remain the sole off-taker of petrol from the refinery, with other distributors getting the product from the national oil company. In return, NNPC Limited will start supplying 385,000 barrels of crude oil to the Dangote Refinery on October 1, 2024.
On the issue of petrol, Adewole, the Executive Secretary of DAPPMAN, disputed the allegation of boycotting petrol from the Dangote Refinery, stressing that the distributors were still waiting for government approval on the modalities for resuming petrol.
DAPPMAN firmly believes in meeting Nigeria’s energy needs and is supportive of the call to avoid a monopoly that would jeopardize the country’s economic growth and development. Distribution will be to sources offering products at lower prices, better quality and optimal accessibility, in line with the laws of supply and demand.
In conclusion, DAPPMAN is committed to continuing to provide superior fuel solutions while ensuring the sustainability of the sector. These recent developments in the Nigerian petroleum industry promise new dynamics and growth opportunities for the entire sector.
This move towards enhanced collaboration between key industry players paves the way for a more stable and reliable supply of gasoline, which is essential to meet the country’s growing energy needs.