Afrigather Oil entrepreneurs, on Friday, revealed that the value of Premium Motor Spirit, popularly referred to as petrol, produced by the Dangote Petroleum Refinery was between N1,015 and N1,028/litre relying on the amount being bought.
Based mostly on this, the sellers vowed to import the commodity and promote it beneath the Dangote refinery worth in addition to the value being bought by the Nigerian Nationwide Petroleum Firm Restricted.
Information launched by the Main Energies Entrepreneurs Affiliation of Nigeria on Thursday confirmed that the touchdown value of petrol was N978.01/litre as of October 31, 2024.
It acknowledged that the touchdown value of diesel was N1,069.97/litre, whereas that of aviation gas was put at N1,119.67/litre.
The touchdown value of those white merchandise is the unit worth of the imported commodities on touchdown on Nigeria’s shores.
Because the Dangote refinery commenced the discharge of refined petroleum merchandise domestically, it had refused to announce the price of the commodity regardless of a number of calls for for the value.
Nonetheless, a significant marketer, who spoke to one in all our correspondents on situation of anonymity on account of lack of authorisation to talk on the matter, confirmed that the price of petrol from the Dangote refinery was increased than that of imported PMS.
Based on the official, the refinery presently sells to grease entrepreneurs making bulk buy at N1,015/litre and small patrons at N1,028/litre.
The foremost marketer additionally disclosed that three cargoes carrying petroleum merchandise just lately arrived and had been discharged at seaports alongside the nation’s borders.
“Dangote is promoting to bulk patrons at N1,015/litre, however to entrepreneurs who are usually not shopping for in bulk, the refinery is promoting at N1,028/litre.
“However imported PMS is cheaper than the price of Dangote’ personal, and that’s the reason he’s doing all he can to make sure that the federal government stops the importation of gas,” the seller acknowledged.
Commenting on the event, entrepreneurs beneath the aegis of the Petroleum Retail Outlet Homeowners Affiliation of Nigeria vowed that they might promote imported petrol beneath the value provided by the Dangote refinery.
The affiliation mentioned its PMS would even be cheaper than that of the NNPCL.
The PETROAN Publicity Secretary, Dr Joseph Obele, nonetheless, advised Saturday PUNCH that the value of Dangote PMS is likely to be increased as a result of the refinery was nonetheless producing with the imported crude it purchased at a premium.
He mentioned the affiliation had struck offers with some worldwide gas suppliers to import PMS at a very good worth, including that the product would arrive in Nigeria at a worth round N800/litre.
“PETROAN is an affiliation, however we’ve integrated our restricted legal responsibility firm referred to as PETROAN Restricted. We have now obtained the licence from the Company Affairs Fee, and we’ve utilized to the NMDPRA to licence us and provides us authority to import. So, as we get that authority to import, I feel we’ll import from the very best market.
“And it’s good additionally for most people to grasp that the touchdown prices in all of the nations are usually not the identical. PETROAN has obtained a associate from the worldwide market, that the product will arrive right here at near N800/litre. So, since PETROAN has the very best worth for Nigerian residents, we’re calling on the regulatory company to launch our authority to import in no distant time so our first inventory will are available in.
“And we guarantee you that PETROAN will promote far lower than Dangote. It should promote at costs far lower than NNPC. Proper now, NNPC is promoting to us at N1,040/litre. PETROAN won’t promote like that, as a result of we’ve negotiated. And all our companions and overseas counterparts are on standby to ensure we give Nigerians the very best worth,” Obele mentioned.
The associations spokesperson acknowledged that he wouldn’t have the ability to disclose the precise amount to be imported, however harassed that PMS imported by PETROAN can be cheaper.
Obele defined that Dangote was solely promoting to NNPC instantly, whereas NNPC bought to entrepreneurs.
“I’m telling you that that the place of NNPC as a intermediary continues to be energetic until tomorrow. NNPC has refused to announce how a lot Dangote is giving. Dangote has additionally refused to announce how a lot he’s promoting to NNPC. So, I feel there may be an settlement that they don’t announce it.
“All we all know is how a lot NNPC is promoting it to us. Nonetheless, the transaction between the 2 just isn’t within the public area. NNPC has refused to say it. And most people has mentioned, please make this stuff open,” he mentioned.
Talking on the touchdown value of N978/litre, he emphasised that the touchdown value differs from nation to nation.
“N978 to N1,000, that’s the touchdown value. It was about N1,100 as of final month. However due to the drop within the promoting worth of crude oil within the worldwide market, PMS has witnessed a downward assessment within the worldwide market too. So, I feel we also needs to witness a downward assessment,“ he mentioned.
When reminded that the NNPC simply jerked up its worth, Obele responded, “No, the problem we’ve is that the one practical refinery we’ve is the Dangote refinery. And Dangote has introduced to everybody who needs to listen to that the crude oil inventory he’s nonetheless engaged on was the one he purchased from the worldwide market; that the naira-for-crude inventory, he has not began refining that. So, we don’t count on a downward assessment from somebody who purchased previous inventory when crude oil was promoting for $80 and $78 per barrel.
“So, now that it has dropped to $72, we’re not anticipating to assessment the value robotically. As a result of you’ll be able to put it to us that it’s nonetheless buying and selling with the previous inventory. However just lately, the value of crude oil has dropped. We hope that whoever is shopping for the brand new inventory of this new commerce ought to assessment the value downward. But when what Dangote has used to refine the inventory accessible is the previous inventory obtained when crude oil was nonetheless promoting at $80 per barrel, we don’t count on him to assessment downward.
“Till the refinery commences manufacturing with the inventory it simply acquired final week in naira, that’s when individuals can criticise it. However in the intervening time, I feel the promoting charge displays the previous value of crude oil.”
In the meantime, the Nationwide Assistant Secretary of the Unbiased Petroleum Entrepreneurs Affiliation of Nigeria, Yakubu Suleiman, additionally acknowledged that the price of Dangote petrol was increased than the imported commodity in the intervening time.
Suleiman, talking in an interview with Come up TV, on Friday, acknowledged that the value of gas from Dangote refinery was increased than the price of commodities imported.
Based on him, the value of petrol at Dangote refinery was set at round N995 and better than different sources.
Suleiman additionally accused the Chief Govt Officer of the Dangote refinery, Aliko Dangote, of sidelining key stakeholders in its gas provide technique, claiming that restricted engagement with unbiased entrepreneurs had hampered their means to raise petrol from the ability.
When contacted, the Chief Company Communications Officer of Dangote Group, Tony Chiejina, mentioned the figures being bandied weren’t right.
He described reviews on Dangote petrol worth as faux information, questioning the place they emanated from.
“That is faux information. Persons are simply posting what they like,“ he mentioned.
Chiejina, nonetheless, declined to offer the precise worth.
(Punch)
