,,, Petrol price crash expected.
By Dare Olawin.
(C) Business Insider/Google.
The Dangote Petroleum Refinery on Monday, deployed over 1,000 Compressed Natural Gas (CNG)-powered trucks in the first phase of its direct fuel distribution scheme, a move expected to crash pump prices nationwide.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has already declared readiness to receive the trucks across its member stations.
Officials at the refinery told The PUNCH that the launch marks one year of petrol production at the facility.
The initiative, initially scheduled for August 15, was delayed due to logistics challenges in China, where 4,000 CNG trucks had been ordered.
A senior Dangote Group official confirmed that over 1,000 trucks arrived in August, with more being delivered in batches. “The trucks are arriving in hundreds every week,” the official said.
With the rollout, the refinery announced a gantry price of N820 per litre, translating to N841 per litre in Lagos and South-West states, and N851 per litre in Abuja, Rivers, Delta, Edo, and Kwara. Further expansion nationwide is expected as more trucks arrive.
The company said the CNG initiative would save Nigeria over N1.8 trillion annually, reduce inflationary pressures, and ease distribution bottlenecks.
IPMAN President, Abubakar Shettima, confirmed that independent marketers had applied online for direct fuel supplies and were awaiting deliveries.
“We are on standby. The price reduction is good for the masses, and that is what we stand for. If the people are happy, then we are happy,” Shettima said.
He dismissed concerns that the scheme was a “Greek gift,” insisting Nigerians would soon see its benefits.
The Depot and Petroleum Product Marketers Association of Nigeria (DAPPMAN), however, criticised the move, describing it as a ploy to stifle competition.
DAPPMAN Executive Secretary, Olufemi Adewole, alleged that Dangote sold petrol to foreign traders at lower prices than to local buyers. But Dangote officials dismissed the claims, accusing DAPPMAN and allied unions of orchestrating attacks to undermine the refinery.
The refinery insisted that despite a recent hike in CNG costs, it would proceed with plans to deploy 10,000 trucks before year-end.
Dangote stressed that its operations have already created over 570,000 jobs and revitalised communities through infrastructure investments. The refinery also pledged support for over 42 million micro, small, and medium enterprises by lowering energy costs.
The group said it was investing N720bn into the project and urged fuel marketers, telecoms operators, and large-scale fuel consumers to partner in maximising its benefits.
Edited by Dada Ahmed.
