Di Independent Petroleum Marketers Association of Nigeria (IPMAN) don talk say Dangote Petroleum Refinery suppose dey sell Premium Motor Spirit (petrol) for price wey go dey lower than di ₦825 per litre wey dem dey currently sell am.
Di Publicity Secretary of IPMAN, Chinedu Ukadike, for one interview, talk say di refinery get wetin e need to dey sell petrol cheaper pass di price wey dem dey take sell am now for depot.
Ukadike dey react to wetin Aliko Dangote — di President of Dangote Group — tok say hin refinery don help make fuel price drop for Nigeria, reach di point wey Nigerians dey pay only 55 percent of wetin other West African people dey pay for fuel.
Dangote also tell ECOWAS officials and President Tinubu recently say di naira-for-crude policy wey federal government introduce don help reduce fuel price.
Even though Ukadike agree say petrol cheap pass wetin other West African countries dey pay, he still insist say petrol for Nigeria suppose cheap pass as e be now — say around ₦750 per litre go make more sense.
According to am, most of those West African countries wey Dangote compare Nigeria with no dey produce crude oil and dem no get refinery wey dey run with local currency.
E say, “I no go lie, petrol cheap for Nigeria pass other West African countries. But make we no forget say dem countries no dey produce crude oil. But Nigeria dey produce crude oil. And now wey di President don decide to dey give Dangote refinery crude with naira, all di wahala of foreign exchange don reduce. So Nigerians suppose enjoy di benefit.”
Ukadike say wetin Dangote don really achieve na say e don stop fuel scarcity wey dey cause long queue for filling stations. But he still call government make dem try strengthen di naira so fuel go cheap more.
“Wetin I believe say Dangote don really do for Nigerians na to make fuel dey available. But as for price, we never still reach where e suppose dey. If government fit make naira strong, fuel price go come down.”
When dem ask am whether Dangote fuel price still too high, he reply say, “I no dey talk say e too cheap. Based on wetin Dangote don get — from facilities to local support — I no believe say price suppose reach like that. From wetin I calculate, petrol suppose dey around ₦770 or even ₦750. I no be refining expert but from wetin I gather, e no suppose pass ₦780.”
He say if naira fit strong reach ₦1,100 to $1, fuel fit drop below ₦750 per litre.
“I no sabi how low dollar go go but if dollar reach ₦1,200, I believe petrol go fall go below ₦750 per litre.”
Meanwhile, Dangote don tell ECOWAS say many Nigerians no know say dem dey pay only 55% of wetin other West African countries dey pay for fuel.
E talk say him dey sell petrol between ₦815 and ₦820 per litre from him refinery.
During one visit to the refinery by ECOWAS President, Dr Omar Touray, Dangote explain how local refining dey help Nigeria reduce production costs and support sectors like mining and agriculture.
Last year, he talk say when dem start to dey produce diesel, price crash from ₦1,700 to ₦1,100. E say dat kain impact dey reach many sectors.
He also talk say petrol dey sell for $1 (about ₦1,600) for other countries, but for here e dey around ₦815, meaning Nigerians dey enjoy cheap fuel.
During Tinubu visit to di refinery, Dangote repeat say di naira-for-crude arrangement help am fit reduce price. But one report from S&P Global still talk say Dangote refinery fuel price still dey high pass wetin e suppose be, considering say crude oil price don drop.
