DAPPMAN welcomes Dangote Refinery to petrol market

The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) Wednesday expressed excitement over the rollout of premium motor spirit (PMS) otherwise known as petroleum by Dangote Refinery. DAPPMAN’s Executive Secretary, Olufemi Adewole, said members of the association were elated that “The much-awaited petrol from Dangote Refinery is here.” Adewole said his members had looked […]

The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) Wednesday expressed excitement over the rollout of premium motor spirit (PMS) otherwise known as petroleum by Dangote Refinery.

DAPPMAN’s Executive Secretary, Olufemi Adewole, said members of the association were elated that “The much-awaited petrol from Dangote Refinery is here.”

Adewole said his members had looked forward to a day like this when they could source their products locally.

“For us, it’s a dream come true as it’s a win-win situation for us all- the refinery, the marketers and, indeed, the general public,” he said.

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A member of the association, who requested anonymity, dispelled the insinuation that depot owners and marketers are mere middlemen who have little contribution to the petroleum products supply and distribution value chain.

He described as unfounded and ridiculous the pronouncement in some quarters that depot owners should go and sell off their depots because of the commencement of Dangote Refinery’s operation of petrol.

He corroborated stakeholders’ belief that local refineries would require the cooperation of all stakeholders for mutual success.

“The petroleum products supply and distribution value chain is a global business that’s not peculiar to Nigeria. How will anyone suggest that because of the advent of locally produced products, depot owners and oil marketers have lost relevance? The first simple question to ask is: can all motorists in Nigeria start driving their vehicles to the refineries to fill their tanks?

“Globally, distribution of refined products is a critical aspect of product supply and distribution value chain. The huge investments on depots, loading bays, trucks, filling stations etc will continue to be of compelling need in the sector.

“These investors are not just business men and women, but patriots who have made sacrifices, invested hard earned monies and took loans in billions of naira, sometimes at very high interest rates to ensure end users enjoy seamless supply of the products. How can such Nigerian investors then suddenly become an object of ridicule and scorn?”