The ongoing scarcity of petrol in Nigeria has prompted independent marketers to seek direct supply from the Dangote Refinery, which is seen as a potential solution to the persistent shortages. Chief Chinedu Ukadike, the Public Relations Officer for the Independent Petroleum Marketers Association of Nigeria (IPMAN), expressed optimism about reaching an agreement with the refinery to facilitate this direct supply.
Despite the scarcity that has left many retail outlets in Abuja without petrol for three months, there is hope for improvement. A meeting is scheduled between IPMAN representatives and Dangote Refinery officials to discuss the possibility of independent marketers accessing petrol directly from the $20 billion facility. Ukadike noted that Dangote’s willingness to collaborate with various stakeholders for product distribution is a positive development.
He emphasized that the refinery’s plans to distribute through coastal areas using vessels could help eliminate the so-called “ghost scarcity” that has plagued the market. However, Ukadike acknowledged that pricing remains a significant challenge. Independent marketers need to secure petrol at a competitive price to sustain their operations, especially given that major marketers are currently receiving supplies at N766 per litre, which he described as not favorable.
The situation underscores the complexities of Nigeria’s petrol market, where supply and demand dynamics significantly influence pricing. Ukadike pointed out that true deregulation would allow for competition, and an increase in product availability would eventually lead to lower prices for consumers.