The refinery said that if implemented, this would result in the pump price of petrol and diesel rising to as high as N950 and N1,090 per litre in some parts of Nigeria.
Dangote Petroleum Refinery has revealed that the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) requested it to increase the price of petrol and diesel by N75 per litre, in order to allow its members to match the refinery’s gantry prices at their respective depots.
If implemented, this would result in the pump price of Premium Motor Spirit (PMS) and diesel rising to as high as N950 and N1,090 per litre, respectively, in some parts of Nigeria.
The refinery disclosed that although it offers petroleum products to marketers at its gantry price, DAPPMAN insists on taking delivery via coastal logistics, an option that would add N75 per litre in extra costs.
Based on daily consumption volumes of 40 million litres of Premium Motor Spirit (PMS) and 15 million litres of Automotive Gas Oil (AGO), this amounts to an additional annual cost of N1.505 trillion (N1,505,625,000,000), which they effectively asked the refinery to absorb and pass on to Nigerians.
“We wish to make it clear that we have no intention of increasing our gantry price to accommodate such demands, nor are we willing to pay a subsidy of over N1.5 trillion, a practice that historically defrauded the federal government for many years.
“DAPPMAN and other marketers are welcome to lift products directly from our gantry and benefit from our logistics-free initiative,” it said.
1SUBSCRIBE TO OUR NEWSLETTER NOW
Support MATAZ ARISING’ journalism of integrity and credibility.
Good journalism ensure the possibility of a good society, an accountable democracy, and a transparent government.
We ask you to consider making a modest support to this noble endeavour.
TEXT AD: To advertise here – Email ad@matazarising.com
LATEST POSTS
-
British woman, unborn baby die in Nigeria; family seeks help to bring bodies home
MaTaZ ArIsInGDallas, Texas A 40-year-old British woman who relocated to Nigeria to start a new life with her husband has died alongside her unborn baby after developing sepsis. Claire Chadwick, who was 37 weeks pregnant, reportedly suffered septic shock after her baby girl died in the womb. In a report by Daily Mail UK, Chadwick…
-
Fani-Kayode, Seyi Tinubu, three others receive senior counsel rank
Seyi Tinubu
-
2027: Atiku, Peter Obi have nothing to offer Nigerians — Wike
MaTaZ ArIsInGDallas, Texas Wike said Obi lacked the capacity to provide alternative leadership, while Atiku failed to make meaningful contributions when he had the opportunity to serve in government. He made the remarks on Thursday during his monthly media chat in Port Harcourt, where he expressed confidence in President Bola Tinubu’s political strength ahead of…
