The Dangote Refinery is preparing for a strategic meeting with the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) to discuss a direct fuel supply partnership. This move aims to eliminate intermediaries, following a recent agreement between Dangote Refinery and the Independent Petroleum Marketers Association of Nigeria (IPMAN). According to Joseph Obele, PETROAN’s Publicity […]
Tag archives: Dangote Refinery
Black Market Dollar to Naira Rate Rises Amidst Economic Concerns, DAPPMAN Rebukes Dangote Refinery on Fuel Pricing
Dollar to Naira Black Market Rate Hits N1730 as Fuel Price Dispute Escalates The dollar-to-naira exchange rate in Nigeria’s black market continues to rise, with Bureau de Change operators in Lagos buying at N1725 and selling at N1730 as of November 6, 2024. This parallel market rate remains significantly higher than the Central Bank of […]
Nigeria’s Fuel Crisis: Oil Marketers Warn Against Dangote’s Monopoly Amid Rising Petrol Prices
Oil Marketers Warn Against Dangote Refinery Monopoly as Fuel Prices Surge in Nigeria As Nigerians struggle with soaring petrol prices, oil marketers are pushing back against a potential monopoly by the Dangote Petroleum Refinery. In a court case filed under number FHC/CS/ABJ/1324/2024, marketers including AYM Shafa, A.A. Rano, and Matrix Petroleum argue that allowing Dangote […]
PETROAN, Marketers Plan Cheaper Fuel Imports Amid High Dangote and NNPCL Petrol Prices
Fuel Marketers Plan Cheaper Imports as Dangote, NNPCL Petrol Prices Hit N1,015-N1,028 Per Litre Oil marketers announced on Friday that petrol from Dangote Petroleum Refinery is priced between N1,015 and N1,028 per litre, depending on purchase quantity. In response, marketers are planning to import petrol to sell below Dangote’s and the Nigerian National Petroleum Company […]
IPMAN Urges Dangote to Reassess Pricing Amid Refinery Supply Hurdles
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has requested that billionaire Aliko Dangote reconsider his pricing strategy for petrol, following claims of a boycott by independent marketers. IPMAN President Abubakar Garima addressed these issues, stating that, despite an advance payment of ₦40 billion to the Nigerian National Petroleum Company Limited (NNPCL), IPMAN members are […]
Dollar to Naira Black Market Exchange Rate Hits N1700 on October 15, 2024
On October 15, 2024, the dollar to naira exchange rate in the black market (also known as the parallel market) reached N1696 for buying and N1700 for selling, according to reports from Bureau De Change (BDC) operators in Lagos. The Central Bank of Nigeria (CBN) maintains that it does not recognize the black market for […]