IPMAN Optimistic About Deal with Dangote Refinery to End Fuel Scarcity in Abuja

IPMAN Optimistic About Deal with Dangote Refinery to End Fuel Scarcity in Abuja: Amid ongoing fuel scarcity in Abuja, many retail outlets remain without petrol, three months into the shortage.

Chief Chinedu Ukadike, Public Relations Officer of the Independent

Petroleum Marketers Association of Nigeria (IPMAN), shared that independent

marketers are hopeful about a potential agreement to source fuel directly

from the $20 billion Dangote refinery.

A meeting between the marketers and refinery officials is scheduled for this week, signaling progress in efforts to alleviate the supply crisis.

the refinery

Ukadike expressed optimism that the refinery, which is currently distributing to

major marketers, will soon extend its reach to independent marketers.

He also highlighted the refinery’s plan to distribute fuel through coastal areas using vessels, a move he believes will address the long-standing scarcity issue. “Once it takes off effectively,

ghost scarcity will be gone,” he stated.

However, pricing challenges persist, particularly for independent marketers

who need to procure fuel at competitive rates. Ukadike pointed out that the

current supply price of N766 per litre to major marketers is not ideal,

but emphasized that supply levels will ultimately drive prices down.

He reiterated that deregulation revolves around competition,

with demand and supply playing key roles in determining future fuel prices.