Seven major oil marketing companies have been selected to sell fuel produced at the $20 billion Dangote refinery, an important step towards nationwide distribution.
The selection of oil marketing giants Conoil Plc, 11 Plc, Total Nigeria Plc, Ardova Plc, MRS Oil Nigeria Plc, OVH Energy Marketing Limited and NNPC Retail builds momentum among the parties as the facility gets ready to begin production. It will increase. Diesel and aviation fuel.
Members of the Major Oil Marketers Association of Nigeria (MOMAN) have expressed readiness to commence sales once commercial terms are finalized.
MOMAN CEO Clement Isong confirmed that all members are registered with Dangote and expects quick availability of products at each station.
“We have all registered on Dangote so that we can buy and sell. All my members are registered on Dangote. Once the product is ready and we start shipping, we can always bring the product to our gas stations. You will see it,” Isong asserted in a BusinessDay report.
Dangote Group President Aliko Dangote has expressed gratitude to President Bola Tinubu and various regulatory authorities for their support to mark the refinery’s pivotal moment.
“This is a significant achievement for our country that demonstrates our ability to develop and deliver large-scale capital projects. This is a game changer for our country and we are very happy with the realization of this project,” Dangote said. Stated.
The refinery in Lagos has already received 6 million barrels of crude oil and has overcome initial supply challenges to clear the way to production. We adhere to strict international standards and boast the capacity to load 2,900 trucks every day.
Independent Petroleum Marketers Association of Nigeria (IPMAN) and
The Petroleum Products Retail Owners Association of Nigeria (Petroan) is also scheduled to meet with Dangote's management, demonstrating the industry's widespread interest in the refinery.
While hopes are rising for a potential reduction in fuel prices, industry leaders are warning that multiple factors could impact prices, urging cautious optimism.
Petroan's Billy Gillis-Harry expressed cautious optimism to Business Day, saying lower logistics costs were a positive, but details would be revealed after product loading talks.
He said: “It's difficult to give an exact number because there are so many variables involved. However, since the crude oil used is for domestic consumption, freight and insurance are deducted from the total cost. Therefore, if this is removed, prices could be positively impacted for Nigerians.
“But we will have to wait and find out exactly what the price will be, because we don't know how much oil he received, whether it's naira or dollars, for example. is business information and can sometimes be difficult to release.
“But whatever the situation, we should expect a reprieve and some advantage should come to us. That's my opinion.”
