Pump price: Uncertainty as Dangote, IPMAN meeting fails to hold

By Abdullateef Aliyu Uncertainty has persisted over the proposed meeting of the Independent Marketers’ Association of Nigeria (IPMAN) with the management of the Dangote Refinery over the pump price of fuel. The meeting, initially scheduled for Tuesday, was to discuss modalities for direct purchase of premium motor spirit (PMS) from the Dangote refinery after the […]

By Abdullateef Aliyu

Uncertainty has persisted over the proposed meeting of the Independent Marketers’ Association of Nigeria (IPMAN) with the management of the Dangote Refinery over the pump price of fuel.

The meeting, initially scheduled for Tuesday, was to discuss modalities for direct purchase of premium motor spirit (PMS) from the Dangote refinery after the Nigerian National Petroleum Company Limited (NNPCL) quit its middleman role with the 650,000-barrel refinery.

The federal government through the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, who is in charge of crude oil sale in naira to local refiners, had said the marketers are now free to purchase directly from Dangote refinery.

IPMAN leadership had confirmed opening talks with the Dangote refinery with a view to getting relatively cheaper fuel.

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However, no meeting has taken place as of the time of filing this report, dashing the expectations of many Nigerians anticipating cheap fuel from the talk.

Speaking with our correspondent, National Publicity Secretary of IMPAN, Chief Chinedu Ukadike confirmed that there was no meeting held.

He stated that IPMAN was still waiting for Dangote refinery to call for the meeting, saying, “As of now, status quo still remains.”

Independent marketers opened discussion with the management of Dangote following the intervention of the Department of State Service (DSS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

IPMAN had tackled the Nigerian National Petroleum Company Limited (NNPCL), saying the price it was getting fuel from the national oil company higher than the N898 per litre from Dangote.

According to the National President, Abubakar Maigandi, the NNPCL has been holding about N15bn belonging to the independent marketers for the past three months.

But an IPMAN source who spoke with our correspondent said the NNPCL had agreed to allow IPMAN to buy directly from Dangote.

This followed the decision of the national oil company to quit its middle-man role in the distribution of fuel from the 650,000-capacity refinery.