Marketers Lift 251 Million Litres Of Dangote Petrol As NNPC Confirms PH Refinery Price

• Major Energy Marketers Association of Nigeria (MEMAN) has disclosed that its members bought 251 million litres of petrol from the Dangote refinery
• The association said the total volume of petrol bought from the refinery includes 148m litres loaded by trucks at the facility’s gantry and 103m by ships
• Meanwhile, PETROAN has disclosed that the NNPC confirmed that petrol from the Port Harcourt Refinery is sold at N1,030 per litre

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

The Major Energy Marketers Association of Nigeria (MEMAN) has revealed that its members purchased 251.8 million litres of petrol from the Dangote Refinery between September 16 and November 24, 2024.

Clem Isong, MEMAN's chief executive officer, disclosed this at a quarterly webinar by the organisation.

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Marketers still loading petrol at Dangote Refinery

He stated that the total volume of gasoline bought from the refinery includes 148 million litres loaded by trucks at the facility’s gantry and 103 million delivered to the Apapa depots through ships.

He said the association members are still loading products at the Dangote refinery.

Isong explained that while MEMAN members can import petrol, it relied on local supply from the 650,000 bpd-capacity refinery due to the competitive market guide in place.

Recall that the Dangote refinery reduced petrol prices from N990 to N970 per litre for the marketers.

NNPC confirms PH refinery petrol prices

Meanwhile, reports say the Petroleum Products Outlet Owners Association of Nigeria (PETROAN) disclosed that the newly refurbished Port Harcourt Refinery will sell its petrol at N1,030 per litre, saying the refinery is working.

PETROAN spokesman Joseph Obele said the NNPC announced to its members that a litre of petrol sells for N1,030 at the refinery.

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Obele said the NNPC has officially announced the PMS price at the Port Harcourt refinery as N1,030 per litre. The state oil company confirmed that its purchase portal was open for booking and request.

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Legit.ng earlier reported that Tonye Cole, co-founder of Sahara Group, an energy company, explained why Nigerian refineries cannot sell petrol at N700 per litre or less.

He cited several reasons, including volatile foreign exchange rates as critical factors.

Cole, who spoke on Channels Television on Tuesday, November 26, 2024, highlighted pricing complexities after announcing that the Port Harcourt Refinery has commenced production.