After Choosing New Distributors, Dangote Refinery Set to Supply 150,000 Fuel Stations Across Nigeria
- Dangote Petroleum Refinery has agreed to a new deal with marketers across the country
- The president of IPMAN said the products are likely to hit the market this January
- He said that the development will solve the issue of fuel scarcity in the country
Legit.ng journalist Zainab Iwayemi has over 3 years of experience covering the Economy, Technology, and Capital Market.
Dangote Petroleum Refinery is set to supply about 150,000 retail outlets operated by the Independent Petroleum Marketers Association of Nigeria (IPMAN).
This follows an agreement reached between the refinery's management and IPMAN executives.
Source: UGC
The meeting was held to discuss the supply of products to independent marketers.
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Legit.ng earlier reported that Eterna Plc announced that it is now an authorised distributor of the new Dangote Petroleum Refinery's products in the domestic market.
More about Dangote Refinery:
- Femi Otedola calls Dangote Refinery' 8th wonder of the world after visiting plant
- Dangote Refinery secures marketers, depot operators for distribution of petrol, diesel, others
- FG Gives Oil Firms in Nigeria Strict Orders on Dangote as 6 Refineries Are Set to Begin Operation
30,000 members nationwide will be served
According to Punch, Abubakar Maigandi, the president of IPMAN, confirmed that the association agreed to supply products to the over 30,000 members of IPMAN.
Maigandi said that by this arrangement, 150,000 IPMAN stations nationwide will get the supply of products from the refinery.
Maigandi said:
“The meeting went well, so right now we are just expecting their reply in terms of the products they will give us. They have agreed to dispense products to IPMAN members,” Maigandi stated.
“We have 30,000 members as of our last census, which was done two years ago. And they agreed to supply products to us. Also, our retail outlets are 150,000 stations across the country.”
Dangote Refinery likely to start selling in January
Speaking on the possibility of the product to hit the market this January, the IPMAN president said:
“There is hope since they have started production. Immediately when they finish production, the next thing is to sell. I can confirm this because I was there myself. And I know immediately he gets approval to sell, he can start selling at any time.
Maigandi also stated that the problems around fuel scarcity will be eliminated once the refinery begins production.
He added that although the refinery's management has yet to discuss pricing, there are indications that the price will be slightly lower than what has been selling.
Otedola invests in Dangote Cement
Legit.ng also reported that Nigeria's fourth richest man, Femi Otedola, is acquiring shares in Dangote Cement in a deft move to strengthen his investment portfolio.
The development follows Otedola's re-entry into Forbes Africa's richest list, where he is worth about $1.2 billion and is Nigeria's fourth wealthiest individual.
The development comes after Otedola his visit to the $20 billion 650,000 bpd Dangote Refinery.
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Source: Legit.ng
