The Independent Petroleum Marketers Association of Nigeria (IPMAN) has expressed optimism that the Dangote Refinery will still commence the sale of petrol in Nigeria this August, as initially promised by Aliko Dangote, Chairman of the Dangote Group. The association also remains hopeful that the Port Harcourt Refinery, as pledged by the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, will begin operations this month.
Shina Amoo, Chairman of IPMAN, NNPC Depot, Ore Western Zone, recently conveyed this optimism, noting that while August is nearing its end, there is still potential for the Dangote Refinery to deliver on its promise. The 650,000 barrels per day (bpd) refinery in Lagos had set a mid-August target to release petrol into the Nigerian market, a deadline that has yet to be met.
Amoo expressed confidence in President Bola Tinubu’s directive for the NNPC and other oil companies to sell crude oil to local refineries in naira, a move intended to facilitate the commencement of operations. He also highlighted that the directive for the Dangote Refinery, a $19 billion project, to sell petroleum products to Nigerians in naira is a positive development.
According to Amoo, independent marketers are already purchasing petrol from depot owners in naira, rather than dollars, which he believes will bolster local refining operations. He praised the federal government’s plan to sell crude in naira, emphasizing that local refining would reduce the cost of petroleum products by eliminating freighting and landing expenses
