The seven major oil marketers in Nigeria have officially enlisted with the Dangote Petroleum Refinery, signaling a significant shift in the nation’s oil distribution landscape.
The $20 billion plant has garnered support from major players, including 11 Plc, Conoil Plc, Ardova Plc, MRS Oil Nigeria Plc, OVH Energy Marketing Limited, Total Nigeria Plc, and NNPC Retail.
Dealers, organized under the Major Oil Marketers Association of Nigeria (MOMAN), confirmed their registration, paving the way for the distribution of refined petroleum products from the Dangote refinery.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) and Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) are also set to engage with the refinery’s management to finalize loading terms.
The Dangote Petroleum Refinery recently announced the commencement of diesel and aviation fuel production, with the President of the Dangote Group, Aliko Dangote, expressing gratitude for support from various quarters.
The refinery, located in Lagos, has already received six million barrels of crude oil, with production underway.
MOMAN Executive Secretary, Clement Isong, affirmed that all major marketers are registered with Dangote and anticipate product availability in their stations once commercial terms are finalized.
IPMAN President, Abubakar Maigandi, indicated a scheduled meeting this week to discuss loading terms, emphasizing the potential end to fuel scarcity.
As the industry undergoes a transformative phase, stakeholders are optimistic about the Dangote refinery’s impact on prices, with expectations of reduced logistics costs translating into more competitive pricing.
While specific price reductions remain uncertain, industry leaders foresee positive changes in the market dynamics.
With Dangote’s refinery becoming operational, experts and industry figures express hope for a more self-sufficient and competitive oil sector in Nigeria.
