Connect with us


Top Stories

Why Independent Marketers Can’t Buy Petrol From Dangote Refinery – PENGASSAN

Published

on

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has clarified the reasons independent marketers are unable to purchase petrol directly from Dangote Refinery.

The association’s president, Festas Osifo, at a press conference in Lagos, on Tuesday, said the issue stems from a pricing disparity between the costs at which the Nigerian National Petroleum Company Limited (NNPCL) buys PMS and the prices it sells to independent marketers.

Advertisement

Osifo explained that NNPC may purchase PMS at approximately N950, but sell it to independent marketers at around N700, leading to a significant shortfall that NNPC manages.

READ ALSO:   Sleeping Lagos Painter Stabbed To Death In Friend’s House

He said major marketers would buy directly from Dangote at a price similar to NNPCL’s purchase but would need to sell it at a higher price, potentially over N1,000.

Advertisement

Independent marketers prefer to purchase from NNPCL to take advantage of the lower prices, he said.

Osifo noted that some crude oil has been tied to loan repayments, limiting the available supply for local consumption.

Advertisement

He cautioned that the ongoing trend of divestment by International Oil Companies (IOCs) poses both risks and opportunities for Nigeria, including potential reductions in foreign direct investment and production levels.

Advertisement
READ ALSO:   We’ve Solution To Nigeria’s Problems, Give Us A Chance, Traditionalists Beg Buhari
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.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

Also Read...