Dangote Refinery to sell at N600-N650 per litre – IPMAN
Independent petroleum marketers in Nigeria are forecasting that petrol from the Dangote Petroleum Refinery will retail between ₦600 and ₦650 per litre upon its market entry.
This insight comes from the Independent Petroleum Marketers Association of Nigeria (IPMAN).
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“We are marketers, we go for the best. We have been buying from the NNPC, but if the opportunity of Dangote comes and the price is favourable, we will grab it. It depends on the price,” said Hammed Fashola, National Vice President of IPMAN.
Fashola noted that the Nigerian National Petroleum Company Limited (NNPCL) sells petrol to marketers at ₦570 per litre, but many IPMAN members purchase it from private depot owners at prices exceeding ₦700 per litre.
“Plus or minus, we hope Dangote can sell between ₦600 and ₦650/litre. ₦600 is still okay. However, it depends on the cost of production from Dangote’s end.” He added.
Proofreading by Fa’izatu Aliyu Doma, Journalist at Neptune Prime.
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