Independent Petroleum Marketers in Nigeria (IPMAN) are anticipating that the Dangote Petroleum Refinery will price its Premium Motor Spirit (PMS), commonly known as petrol, at approximately N600 to N650 per liter when it officially enters the market. Currently, the Nigerian National Petroleum Company Limited (NNPCL) sells petrol to marketers at N570 per liter, but many IPMAN members are purchasing it from private depots at prices exceeding N700.
IPMAN leadership has engaged in discussions with Dangote refinery officials regarding potential partnerships, expressing optimism about the upcoming supply. However, there are concerns that the actual price of petrol could be higher than expected due to the refinery’s reliance on imported crude oil, which may affect production costs. The chairman of IPMAN noted that the price of Dangote petrol would ultimately depend on the cost of crude oil at the time of purchase, emphasizing the uncertainty surrounding the final pricing until the refinery begins distribution.