The Independent Petroleum Marketers Association of Nigeria (IPMAN) has stated that the price of petrol will be cheaper when marketers start lifting the product directly from the Dangote Petroleum Refinery.
IPMAN spokesperson, Chinedu Ukadike, made this known when he was featured as a guest on Channels Television on Tuesday.
He disclosed that marketers are in talks with the Dangote refinery for the direct lifting of PMS.
“Most people look at the independent marketers as those who sell petroleum products very expensively, that we are after profit, and we don’t even care about the feelings of the masses. That is not correct.
“We are optimistic that this relationship and business engagement with Dangote will break this bureaucratic distribution of petroleum products from one chain to another. Also with NNPC because the Port Harcourt Refinery is coming up,” Ukadike said.
He noted that when the Port Harcourt Refinery comes up, IPMAN won’t want to take products from a second tier or third tier.
“We want to take our product directly so that we can cut off all this unnecessary hiking of prices. That’s what we are advocating for. It’s very simple.”
Ukadike also spoke on how excessive supply and competition will reduce the price of petrol in the future.
“Now the Port Harcourt Refinery is around the corner. Dangote is already here and the competition will set in and the factors of demand and supply determine price. When there is excessive supply, the price will go down,” he said.
“Everybody wants to sell. It happened when the telecommunications came on board. It was very high.”
He said this will help determine how cheap petrol will be as marketers can buy from the cheapest providers.
“We will be the beautiful proprietor. We will now go to where you will get it as cheap as possible,” he added.
