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7 key marketers approved to sell Dangote fuel

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By Abdulwasiu Usman

MOMAN is willing to commence distribution once commercial details are sorted.

As the Dangote Refinery is set to commence operation, particularly the production of diesel and aviation fuel, seven major distributors in the oil marketing industry, namely Conoil Plc, 11 Plc, Total Nigeria Plc, Ardova Plc, MRS Oil Nigeria Plc, OVH Energy Marketing Limited, and NNPC Retail, have been selected to distribute refined fuel produced by the eminent Dangote Refinery, to the citizens. This move heightens enthusiasm amongst concerned parties as the refinery gears up to commence operations. The Major Oil Marketers Association of Nigeria (MOMAN) has shown willingness to commence distribution, once the commercial terms for the Dangote Refinery operation are finalized, marking an important stage in the refinery’s development.

Clement Isong, the CEO of MOMAN, has indeed affirmed that all members of the organization have successfully completed their registration with Dangote and eagerly await the timely availability of the products in their stations. Expressing his deepest appreciation, Aliko Dangote, the President of the Dangote Group, thanked President Bola Tinubu and several regulatory bodies for their unwavering support, which undoubtedly marked a significant milestone for the refinery. Dangote expressed his gratitude for the realization of this project, emphasizing its significance for our nation as it showcases the country’s competence in creating and executing extensive capital projects.

IPMAN and PETROAN set for a meeting with dangote management.

The Refinery, situated in Lagos, has successfully acquired six million barrels of unprocessed oil, triumphing over initial obstacles in supply. This accomplishment propels the refinery towards imminent production. Notably, the facility impressively aligns with rigorous global standards, loading 2,900 fleets of trucks per day. Its ingenious design adheres scrupulously to the requirements set forth by esteemed institutions like the World Bank, the US Environmental Protection Agency, the European emissions regulations, and the Department of Petroleum Resources regarding emissions and effluents, as per Dangote Refinery’s official statement.

Moreover, the Dangote Petroleum Refinery and Petrochemical Project stands as an advanced establishment, possessing the capability to refine a total of 650,000 barrels of crude oil per day. Covering an expansive area of 2,635 hectares within the Lekki Free Trade Zone, this massive industrial facility plays a pivotal role in the conversion of crude oil into a wide range of vital petroleum derivatives. These include but are not limited to diesel, gasoline, jet fuel, and kerosene, which form the lifeblood of various industries. Concurrently, Independent Petroleum Marketers Association Of Nigeria (IPMAN) and Petroleum Products Retail Outlets owners Association of Nigeria (PETROAN) are set for a meeting with the management of Dangote’s enterprise, showcasing the profound interest within the industry towards this refinery.

Pricing information will be provided once loading commences.

Abubakar Maigandi, the President of IPMAN, said the meeting in deciding how the loading process would be carried out. Maigandi told the press that independent marketers would not be able to reveal the expenses associated with refined petroleum products until the loading starts. Maigandi explained that the pricing information will be provided once loading commences, enabling them to determine the appropriate selling price. Regarding the commencement of loading by IPMAN members, he stated that the exact date will only be determined after discussions with the company during a meeting scheduled for later this week.

Billy Gillis-Harry, president of PETROAN, an industry expert, has cautioned about the various factors that could impact pricing midst hopeful anticipation for a possible decline in fuel costs. While Gillis-Harry acknowledged the advantageous elimination of logistics expenses, he noted that the further details would surface during deliberations on product loading. He expressed the complexity of providing an exact figure due to the plethora of variables involved. Nevertheless, the utilization of crude oil exclusively meant for domestic use eliminates the expenses for shipping and insurance from the overall cost.

Related Article: Dangote refinery set to commence production

Thus, if these factors are eliminated, it is probable that prices will be positively affected, ultimately benefiting the Nigerian population. However, he said, irrespective of the circumstances, there is still hope for relief and potential benefits ahead, he emphasized. Gillis-Harry vehemently condemned the previous years’ petroleum product pricing templates, saying it was unrealistic. On the other hand, he stated that PETROAN has been actively collaborating with the management of the Dangote refinery to facilitate the efficient supply and distribution of products from the refinery.


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AN-Toni
Editor
1 month ago

7 key marketers approved to sell Dangote fuel. MOMAN is willing to commence distribution once commercial details are sorted.Express your point of view.

Taiwo
Member
1 month ago

Dangote fuel can now be sold by seven prominent marketers. Once the business aspects are resolved, MOMAN is willing to start distribution. The entire operation of the Dangote Refinery is about to commence. In light of this, seven marketers have been given permission to assist in the sale of the refined oil.

Adeoye Adegoke
Member
1 month ago

That’s interesting news! It’s great to hear that 7 key marketers have been approved to sell Dangote fuel. Once the commercial details are sorted out, MOMAN can start the distribution process. This could potentially increase the availability and accessibility of fuel for consumers.
Having a wider network of approved marketers can help ensure a more efficient and competitive fuel market. It may also contribute to reducing fuel scarcity and long queues at filling stations. This development could positively impact the transportation sector and the overall economy.
It’s always exciting to see progress and new opportunities in the market.

Kazeem1
Member
1 month ago

Dangote Fuel’s approval by seven influential marketers is a significant victory. It’s quite encouraging that MOMAN is prepared to begin distributing as soon as the specifics are worked out.This has the potential to improve gasoline accessibility and availability for consumers.
More approved marketers in a larger network can contribute to a fuel market that is more affordable and sustainable.

SarahDiv
Member
1 month ago

Fantastic news! Dangote Refinery is gearing up, and major distributors, including Conoil and Total, are set to sell its fuel. MOMAN is ready pending final terms. Grateful to Dangote, and IPMAN, PETROAN are meeting for pricing discussions. Exciting times for the oil industry! 🇳🇬🛢️ #OilIndustryUpdate