Originally scheduled for Tuesday, the meeting aimed to finalize arrangements for the direct purchase of Premium Motor Spirit (PMS) from the Dangote Refinery.... CLICK TO READ THE FULL NEWS HERE▶▶
This follows the decision by the Nigerian National Petroleum Company Limited (NNPCL) to withdraw from its intermediary role in the distribution of PMS from the 650,000-barrel-per-day refinery.
Earlier, the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, had announced that marketers could now directly buy fuel from the Dangote Refinery, a move expected to lower pump prices.
IPMAN had expressed optimism about securing more affordable fuel for the market and initiated discussions with Dangote’s management.
However, as of the time of this report, no meeting has taken place, leaving consumers and marketers alike uncertain.
Speaking to Daily Trust, Chief Chinedu Ukadike, IPMAN’s National Publicity Secretary, confirmed the delay, stating, “We are still waiting for Dangote Refinery to convene the meeting. The current status remains unchanged.”
This delay has dampened hopes for an immediate reduction in fuel prices, a relief many Nigerians had anticipated following the talks.
IPMAN’s pursuit of cheaper fuel began with intervention from both the Department of State Services (DSS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
IPMAN has long criticized the NNPCL for selling fuel at prices significantly higher than Dangote’s N898 per litre.
Additionally, IPMAN’s National President, Abubakar Maigandi, revealed that the NNPCL has withheld about N15 billion belonging to independent marketers for the past three months.
Although NNPCL has reportedly agreed to allow IPMAN to purchase directly from Dangote Refinery, the delay in holding the meeting has prolonged the status quo, leaving many questions unanswered about the future of fuel pricing in Nigeria.
