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Home Business & Finance

Oil Marketers Plan Petrol Import as NNPCL, Dangote Talks Drag

Nnaemeka OkwarabyNnaemeka Okwara
September 9, 2024
in Business & Finance
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Oil Marketers Plan Petrol Import as NNPCL, Dangote Talks Drag
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The Nigerian National Petroleum Company Limited (NNPCL) has indicated that Premium Motor Spirit (PMS) will only be fully taken off from Dangote Petroleum Refinery if pump prices in the country exceed the market prices. This might make some oil marketers import petrol from other countries for cheaper sources. NNPCL also stated that Dangote and other local refiners can sell to marketers directly on a willing buyer and seller basis, stressing its unwillingness to act as a distributor in a free market situation.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has expressed its readiness to buy from Dangote if the price is right, although they may consider importing if they find it cheaper. According to industry observers, it appears that the Federal Government is not willing to stop fuel importation despite the recent surge in oil prices and the huge subsidy burden borne by NNPC.

The Dangote refinery, which was launched last week, is set to save Nigeria from importing petroleum products anymore. However, talks between Dangote and NNPC have stalled without progress, thereby prolonging fuel importation.

Tags: BusinessDangote Talks Dragfederal characterNigeriaNNPCLOil Marketers Plan Petrol Import as NNPCLPetrol Import
Nnaemeka Okwara

Nnaemeka Okwara

Okwara Nnaemeka Emmanuel is a skilled wordsmith, passionate blogger, and content writer with a degree in Media Content, He has made a significant mark in the industry. He also holds certification in Marketing and advertising. He has honed a unique blend of creativity and strategic thinking.Driven by a belief in the power of creativity, He has established a niche for himself in diverse regions, leaving a trail of successful projects and satisfied clients. His ability to craft compelling narratives and engage audiences sets him apart in the competitive world of content creation.As a dedicated professional, He continues to push boundaries and set new landmarks in their field. Whether it's through captivating blog posts, persuasive copywriting, or innovative content strategies, Nnaemeka’s consistently delivers excellence, leaving a long lasting impact

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