Fuel price: Marketers didn’t suspend petrol loading at Dangote Refinery — IPMAN

The Independent Petroleum Marketers Association of Nigeria, IPMAN, has dismissed claims that its members suspended the lifting of Premium Motor Spirit, PMS, also known as petrol, from Dangote Refinery.

The National Publicity Secretary of IPMAN, Chinedu Ukadike, made the clarification in an interview with DAILY POST on Monday.

Recall that reports surfaced on Monday suggesting that IPMAN members had halted petrol lifting from Dangote Refinery over the refinery’s dollar-denominated sale of refined petroleum products.

However, Ukadike explained that IPMAN members did not suspend PMS lifting from the 700,000-barrel-per-day refinery.

According to him, petroleum marketers are still lifting their products from Dangote Refinery, contrary to the reports.

“It is not true. Our members never suspended petrol lifting from Dangote Refinery,” he told DAILY POST.

He further stated that the uncertainty in the country’s downstream petroleum sector has made it difficult for marketers to operate.

Ukadike urged the Nigerian government to put the necessary machinery in place to begin talks with Dangote Refinery on the resumption of naira-denominated trading of refined petroleum products.

Recall that last week, Dangote Refinery resumed the sale of refined petroleum products in dollars. The decision has triggered volatility in petrol prices across Nigeria.

DAILY POST reports that petrol prices have surged by more than N100 per litre in less than a week, rising to between N1,155 and N1,280 per litre in Abuja and its environs.

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