• About Us
  • Contact Us
  • Privacy & Policy
Tuesday, July 1, 2025
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
Advertisement
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
No Result
View All Result

Fuel Supply: Dangote Refinery and Petroleum Marketers to Discuss New Petrol Price

Martins Nwakaji by Martins Nwakaji
October 14, 2024
in National
Reading Time: 3 mins read
A A
0
Fuel Supply: Dangote Refinery and Petroleum Marketers to Discuss New Petrol Price
Share on FacebookShare on TwitterShare on WhatsappShare on EmailShare on Telegram


The Independent Petroleum Marketers Association of Nigeria (IPMAN) is preparing to engage in crucial discussions with Dangote Petroleum Refinery on Tuesday and Wednesday.
The primary objective of these meetings is to finalize agreements related to the pricing and logistics for petrol lifting from the refinery. Recent reports indicate that the Petroleum Retail Outlet Owners Association of Nigeria (PETROAN) has received a request from Dangote to resend its petrol lifting application, signaling a significant development in the ongoing negotiations.
Amid this backdrop, PETROAN has expressed optimism regarding potential reductions in petrol prices, contingent upon increased competition within the downstream oil market.


As marketers begin to buy fuel directly from the Dangote refinery, there is hope that this shift will foster a more competitive landscape. IPMAN has characterized the impending agreement with Dangote Refinery as a crucial milestone, one that aims to enhance the efficiency of petrol distribution and strengthen the stability of Nigeria’s fuel supply chain.
In a noteworthy recent decision, the Federal Government has granted petroleum marketers the green light to directly purchase petrol from the Dangote refinery, bypassing the Nigerian National Petroleum Company Limited (NNPC).
Wale Edun, the Minister of Finance and Chairman of the Naira-crude sale implementation committee, affirmed that this policy change enables marketers to buy Premium Motor Spirit (PMS) from local refineries under mutually agreed terms. This, he noted, is a move intended to stimulate competition and improve overall market efficiency.
“We are open to sourcing products from various suppliers, including NNPC, traders, importers, and modular refineries,” commented Gillis-Harry, a representative from PETROAN.


He added that although details regarding the upcoming meeting with Dangote are not fully confirmed, there has been a marked improvement in response compared to previous communications. “We anticipate that PETROAN members will soon begin lifting products from the Dangote refinery, marking significant progress for us and the broader market,” he stated.
On the question of potential future price decrease, Gillis-Harry suggested that petrol prices could dip to around N700 per litre, depending on market dynamics. “An abundance of supply in Nigeria could lead to increased competition among sellers, resulting in lower prices as we all aim for minimal profit margins,” he elaborated.
In this context, IPMAN spokesperson Ukadike announced that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has issued a bulk purchase license to independent marketers, permitting them to lift products directly from the Dangote refinery.
He underscored the urgency of implementing this license and the anticipated import license, emphasizing their roles in fostering healthy competition within the industry.
“The issuance of the bulk purchase license will ensure that all stakeholders compete on an equal footing, allowing us to buy products at reasonable rates,” Ukadike noted, expressing concerns about historically higher purchase prices that have stifled competition.
Addressing the issue of outstanding debts owed by the NNPC to oil dealers, Ukadike revealed that the leadership of NNPC has committed to processing overdue tickets and releasing funds that are currently trapped within their systems. He highlighted the financial difficulties.

Martins Nwakaji

Martins Nwakaji

Related Posts

Experts Question Tinubu’s Saint Lucia Visit Amid Diplomatic Honour and Economic Skepticism
International

Experts Question Tinubu’s Saint Lucia Visit Amid Diplomatic Honour and Economic Skepticism

10 hours ago
President Tinubu Conferred with Knight Commander Honour by Saint Lucia During State Visit
International

President Tinubu Conferred with Knight Commander Honour by Saint Lucia During State Visit

10 hours ago
Mahmuda Terror Group Forms Parallel Government in Kwara Forests, Imposes Laws and Collects Zakat
National

Mahmuda Terror Group Forms Parallel Government in Kwara Forests, Imposes Laws and Collects Zakat

10 hours ago
2027 election: `Democracy must reflect will of the people` Peter Obi warns
National

2027 ambition: Peter Obi express willingness to serve  a single term 

10 hours ago

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

NATIONS NEWS

Experts Question Tinubu’s Saint Lucia Visit Amid Diplomatic Honour and Economic Skepticism
International

Experts Question Tinubu’s Saint Lucia Visit Amid Diplomatic Honour and Economic Skepticism

10 hours ago
President Tinubu Conferred with Knight Commander Honour by Saint Lucia During State Visit
International

President Tinubu Conferred with Knight Commander Honour by Saint Lucia During State Visit

10 hours ago
Mahmuda Terror Group Forms Parallel Government in Kwara Forests, Imposes Laws and Collects Zakat
National

Mahmuda Terror Group Forms Parallel Government in Kwara Forests, Imposes Laws and Collects Zakat

10 hours ago
2027 election: `Democracy must reflect will of the people` Peter Obi warns
National

2027 ambition: Peter Obi express willingness to serve  a single term 

10 hours ago
Dangote Refinery Begins Distribution of Petrol Nationwide
National

Dangote Refinery slashes petrol price from N880 to N840

11 hours ago
Reps queries Ibas over N24bn for CCTV, N30bn for gunboats in Rivers’ 2025 budget
National

Reps queries Ibas over N24bn for CCTV, N30bn for gunboats in Rivers’ 2025 budget

12 hours ago

POLITICS

PDP Governors Under Pressure to Join APC Ahead of 2027 — Ologbondiyan

PDP Governors Under Pressure to Join APC Ahead of 2027 — Ologbondiyan

10 hours ago
PDP Crisis: PDP Confirms Samuel Anyanwu as National Secretary

PDD at the brink of peace as factions close ranks, adopts Anyanwu as National Secretary

10 hours ago
Akpobari Declares Sole Administrator Role Dead After Wike, Fubara Reconciliation

Akpobari Declares Sole Administrator Role Dead After Wike, Fubara Reconciliation

1 day ago
APC Confirms Incoming Defections from Governors of Bayelsa, Rivers, Kano, Others

APC Confirms Incoming Defections from Governors of Bayelsa, Rivers, Kano, Others

1 day ago
David Mark emerges coalition’s ADC interim national chairman

David Mark emerges coalition’s ADC interim national chairman

2 days ago
Peter Obi urges Northern leaders to invest in education to tackle poverty

2027 elections: Coalition to reveal adopted party this week

2 days ago

YOUR ECONOMY

Senate Threatens Arrest of NNPCL Boss over missing N210 Trillion
Economy

Senate Threatens Arrest of NNPCL Boss over missing N210 Trillion

4 days ago
IPMAN: Dangote’s New Delivery Plan Will Bring Cheaper Fuel to Nigerians’s
Economy

IPMAN: Dangote’s New Delivery Plan Will Bring Cheaper Fuel to Nigerians’s

2 weeks ago
Enforce Transparent Pump Pricing, oil marketers Cheating Nigerians, PENGASSAN laments
Economy

Enforce Transparent Pump Pricing, oil marketers Cheating Nigerians, PENGASSAN laments

2 weeks ago
PETROAN kicks against Dangote’s petrol distribution strategy
Economy

PETROAN kicks against Dangote’s petrol distribution strategy

2 weeks ago
Dangote Refinery Begins Distribution of Petrol Nationwide
Economy

Dangote Refinery Begins Distribution of Petrol Nationwide

2 weeks ago
Nigeria Stock Exchange to Partner with Hong Kong’s Stock market
Economy

Nigeria Stock Exchange to Partner with Hong Kong’s Stock market

3 weeks ago

E & P

Luis Enrique: We Can’t Stop Messi Without a Collective Effort
Sports

Luis Enrique: We Can’t Stop Messi Without a Collective Effort

by Steven Atogi
2 days ago
0

Paris Saint Germain (PSG) will face Inter Miami tonight in the highly anticipated Club World Cup match. PSG coach Luis...

Fenerbahçe Closes In on €10M Transfer Deal for Colombian Striker Jhon Durán

Fenerbahçe Closes In on €10M Transfer Deal for Colombian Striker Jhon Durán

3 days ago
Chiamaka Nnadozie Joins Brighton Women FC from Paris FC

Chiamaka Nnadozie Joins Brighton Women FC from Paris FC

3 days ago
Breaking: NAPTIP declares Speed Darlington wanted

Breaking: NAPTIP declares Speed Darlington wanted

4 days ago
Cristiano Ronaldo Extends Al Nassr Contract, Commits to Saudi Pro League Project Until 2027

Cristiano Ronaldo Extends Al Nassr Contract, Commits to Saudi Pro League Project Until 2027

5 days ago
MultiChoice Slashes DStv Decoder Price by 50%

MultiChoice Slashes DStv Decoder Price by 50%

6 days ago

YOUR THOUGHT & HISTORY

Columns

Kidnapped, Silenced, Vindicated: The Full Impact of Kanu’s Judgment

by Odini Brains
4 days ago
The Emerging Kogi: Economic Growth Impact Transforming Better Reality
Columns

The Emerging Kogi: Economic Growth Impact Transforming Better Reality

by Kiikpoye Karibo
6 days ago
ON THE PUBLIC NUISANCE CALLED SOWORE
Opinion

ON THE PUBLIC NUISANCE CALLED SOWORE

by Kiikpoye Karibo
4 months ago
Data Visualizations
Columns

Five Key Considerations for Creating Effective Data Visualizations

by Blessing Chinyere Daniel
6 months ago
The Transformative Power of AI in Revolutionizing Industries and Empowering Growth
Columns

The Transformative Power of AI in Revolutionizing Industries and Empowering Growth

by Blessing Chinyere Daniel
7 months ago

Who we are

Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history

Welcome to Umpire News, your go-to online newspaper dedicated to broadening perspectives and expanding the horizons of our numerous readers. Read more

Browse by Category

  • Columns
  • Economy
  • Editorial
  • Entertainment
  • International
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Trends

Recent News

Experts Question Tinubu’s Saint Lucia Visit Amid Diplomatic Honour and Economic Skepticism

Experts Question Tinubu’s Saint Lucia Visit Amid Diplomatic Honour and Economic Skepticism

July 1, 2025
President Tinubu Conferred with Knight Commander Honour by Saint Lucia During State Visit

President Tinubu Conferred with Knight Commander Honour by Saint Lucia During State Visit

July 1, 2025
  • About Us
  • Contact Us
  • Privacy & Policy

© 2024 Copyright Umpirenews. All rights reserved

No Result
View All Result
  • Home
  • National
  • Economy
  • Politics
  • Sports
  • Entertainment
  • Editorial
  • Opinion
  • Columns

© 2024 Copyright Umpirenews. All rights reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
🤑Join & Get Our Easter Gifts 🤑

Enter your NAME & Email NOW!!

Be among the 1st 100 lucky WINNERS to win our Amazing GIFTs this Easter Period as you READ our Daily hot NEWs & make meaningful comments and follow us on our social media handles.

Name
Enter your email address