Seven major oil marketers have received approval for the distribution of refined petroleum products from the prestigious Dangote Petroleum Refinery. This significant collaboration is expected to reshape the landscape of fuel distribution in the country, bringing about positive changes in availability, accessibility, and potentially influencing market pricing.
The approved major marketers, who have successfully registered with the Dangote Petroleum Refinery for this venture, include:
1. 11 Plc
2. Conoil Plc
3. Ardova Plc
4. MRS Oil Nigeria Plc
5. OVH Energy Marketing Limited
6. Total Nigeria Plc
7. NNPC Retail
These major players, united under the Major Oil Marketers Association of Nigeria (MOMAN), are poised to play a crucial role in the distribution network once the commercial terms are finalized. This collaboration marks a significant step toward achieving the goals of the Dangote Refinery and fostering a robust local oil and gas sector.
The Dangote Petroleum Refinery, with a capacity to refine 650,000 barrels of crude oil per day, is set to revolutionize Nigeria’s energy landscape. The commencement of diesel and aviation fuel production at the refinery signals a monumental achievement for Aliko Dangote and the Dangote Group.
Clement Isong, the Executive Secretary/Chief Executive Officer of MOMAN, has confirmed that all association members have successfully registered with Dangote Petroleum Refinery as authorized marketers. This ensures that the products refined by the Dangote Refinery will be available at MOMAN member filling stations across the country.
While the exact pricing policy of the Dangote Refinery remains undisclosed, industry experts, including Isong, anticipate that the prices will align with market rates. This expectation is based on the significant investment in the construction of the refinery, aiming to recover costs, generate profits, and contribute to Nigeria’s economic growth.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) are also actively engaging with the Dangote refinery for discussions on loading terms. The collaboration of these major marketers with the Dangote Refinery is anticipated to enhance the availability of petroleum products, create job opportunities, and potentially influence market dynamics.
As the Dangote Refinery begins its production journey, the collective efforts of these major marketers will undoubtedly contribute to reshaping Nigeria’s petroleum industry, setting the stage for a more robust and self-sufficient energy future. The impact of this collaboration on the country’s economic stability and energy security is eagerly awaited by industry observers and the Nigerian public alike.