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IPMAN Decries High Cost Of Logistics With Dangote Refinery

Published

Friday, November 1, 2024 at 09:26 PM

Written by Franca Ozini Abaianyanri

IPMAN Decries High Cost Of Logistics With Dangote Refinery

The Independent Petroleum Marketers Association of Nigeria, IPMAN has revealed that high cost of logistics arrangement in getting petrol from the Dangote Refinery have driven independent marketers in the country to seek more affordable options at other depots across Nigeria.

This was disclosed by the National Assistant Secretary of IPMAN, Yakubu Suleiman, on Friday, November 1, 2024, during a morning show programme on a national television station.

The secretary also accused the CEO of Dangote Refinery, Aliko Dangote, of sidelining key stakeholders in its fuel supply strategy, saying that limited engagement with independent marketers in the country has worked on their ability to lift petrol from the facility.

“As IPMAN, Dangote was supposed to have invited us for engagements—not just IPMAN, but all stakeholders, including MOMAN and DAPMAN. Unfortunately, until this moment, there has been no engagement"

“It’s only IPMAN that has tried to engage him. We went to Dangote about three to four times seeking a meeting to discuss synergy between IPMAN and Dangote, but all to no avail. Most times, he tells us he will get back to us.” he said.

Speaking further, Suleiman said that IPMAN members are ready to support the Dangote Refinery but there is need for direct engagement in other to ensure fuel can be sourced at competitive prices when purchased.

The secretary in his words said : "Like every Nigerian, IPMAN is happy for Dangote and his refinery, which is very strategic to the country"

“IPMAN, as a stakeholder in the industry, is very happy to work with Dangote and buy products from him, but the conditions must be right. Examples include the price he is offloading at and the ease of loading,”

The IPMAN boss also said that, the price per litre of petrol at Dangote Refinery is set at a cost of N995, with additional charges pushing the price well above what importers pay which has highly impacted on both independent marketers and consumers across the nation.

Suleiman said, “If Dangote has a product selling for N1,000, let’s assume, and there’s another place selling for N900, we can’t just say, for the sake of our relationship with Dangote, that we’ll instruct our members to buy there. We must go where the price is lower, where we’ll get profit"

“As of last week, Dangote’s price was higher than other places"

“Crude prices are coming down internationally, but Dangote’s rate was N995 per litre, and you have to arrange for your own cargo and loading. With additional costs for transport and depot fees, how can we sell it at the final outlet?

“We have to pity Nigerians. IPMAN is trying its best to support the country, especially at this difficult time when people are suffering. We want to source cheaper products to sell at affordable prices for the people.”

He further expressed frustration over Dangote Refinery’s engagement system, which he claims largely houses top government officials and other highly placed stakeholders while sidelining independent marketers in the market place.

Edited By: Chinedu Eze

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IPMAN Decries High Cost Of Logistics With Dangote Refinery

The Independent Petroleum Marketers Association of Nigeria, IPMAN has revealed that high cost of logistics arrangement in getting petrol from the Dangote Refinery have driven independent marketers in the country to seek more affordable options at other depots across Nigeria.

This was disclosed by the National Assistant Secretary of IPMAN, Yakubu Suleiman, on Friday, November 1, 2024, during a morning show programme on a national television station.

The secretary also accused the CEO of Dangote Refinery, Aliko Dangote, of sidelining key stakeholders in its fuel supply strategy, saying that limited engagement with independent marketers in the country has worked on their ability to lift petrol from the facility.

“As IPMAN, Dangote was supposed to have invited us for engagements—not just IPMAN, but all stakeholders, including MOMAN and DAPMAN. Unfortunately, until this moment, there has been no engagement"

“It’s only IPMAN that has tried to engage him. We went to Dangote about three to four times seeking a meeting to discuss synergy between IPMAN and Dangote, but all to no avail. Most times, he tells us he will get back to us.” he said.

Speaking further, Suleiman said that IPMAN members are ready to support the Dangote Refinery but there is need for direct engagement in other to ensure fuel can be sourced at competitive prices when purchased.

The secretary in his words said : "Like every Nigerian, IPMAN is happy for Dangote and his refinery, which is very strategic to the country"

“IPMAN, as a stakeholder in the industry, is very happy to work with Dangote and buy products from him, but the conditions must be right. Examples include the price he is offloading at and the ease of loading,”

The IPMAN boss also said that, the price per litre of petrol at Dangote Refinery is set at a cost of N995, with additional charges pushing the price well above what importers pay which has highly impacted on both independent marketers and consumers across the nation.

“As of last week, Dangote’s price was higher than other places"

“Crude prices are coming down internationally, but Dangote’s rate was N995 per litre, and you have to arrange for your own cargo and loading. With additional costs for transport and depot fees, how can we sell it at the final outlet?

“We have to pity Nigerians. IPMAN is trying its best to support the country, especially at this difficult time when people are suffering. We want to source cheaper products to sell at affordable prices for the people.”

He further expressed frustration over Dangote Refinery’s engagement system, which he claims largely houses top government officials and other highly placed stakeholders while sidelining independent marketers in the market place.

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