Petroleum product marketers have denied claims of a boycott of Dangote Refinery’s Premium Motor Spirit (PMS), also known as petrol. Olufemi Adewole, the Executive Secretary of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), stated that there was never a boycott but stressed the need to finalize operational modalities.
Adewole emphasized that the petroleum sector must function transparently to ensure all stakeholders thrive and contribute to nationwide availability, reliability, and accessibility of fuel. He added that marketers are awaiting government clarification on the offtake procedures for petrol from Dangote Refinery.
This clarification comes as the Federal Government recently announced that petrol supply from Dangote Refinery will begin on September 15, 2024, following an agreement with the Nigerian National Petroleum Corporation (NNPC). Under this agreement, NNPC will remain the sole off-taker of petrol, while other marketers will purchase the product from NNPC. In return, the NNPC will supply 385,000 barrels of crude oil daily to Dangote Refinery from October 1, 2024.
Adewole reaffirmed DAPPMAN’s commitment to ensuring Nigeria’s energy needs are met and cautioned against monopolistic practices that could harm economic growth. He noted that the market would naturally gravitate towards suppliers offering lower prices, better quality, and easy accessibility.
He reassured Nigerians that DAPPMAN remains dedicated to providing top-notch fuel solutions and ensuring the sustainability of the sector.
