Oil marketers have increased Premium Motor Spirit (PMS) or petrol importation amid reported disputes with local refineries.
As of Friday, tanker data sourced from Petroleum Price indicated that Nigeria’s tanker activity surged as major ports in Lagos and Warri actively received cargoes.
A total of five tankers discharged PMS, Automotive Gas Oil (AGO), and crude oil into high-volume depots, strengthening supply ahead of expected market volatility.
Together, these five tankers delivered over 194,000 metric tonnes of petroleum and crude cargo, as forex rates exceed ₦1,640/USD and marketers face competitive pricing pressure.
Earlier reports alleged disputes between oil marketers and the Dangote Refinery over pricing.
Following a statement by Dangote that some cabals who are major marketers and traders were fighting against the survival of the $20bn refinery, the Executive Secretary of the Depot and Petroleum Products Marketers Association of Nigeria, Olufemi Adewole, said marketers only want to keep their businesses running by importing fuel.
Adewole dismissed allegations of a ‘cabal’ in the sector but admitted the existence of vested interests among private depot owners, who he said have invested billions of naira over the years to keep fuel flowing to Nigerians.
The DAPPMAN official alleged that the Dangote refinery, despite its massive 650,000-barrel capacity, has not been able to meet even the current reduced local consumption needs. He argued that private depot owners continue to bear the bulk of the fuel distribution burden across the country.
“Quoting the authority’s (NMDPRA) chief executive in his recent presentation at the Villa, he stated that the Dangote refinery is not meeting up to even the reduced local consumption volume. So, for now, the Dangote refinery cannot meet up. It is we, the private depot owners, that have been bridging the gap and meeting the needs of Nigerians,” the DAPPMAN scribe stated.
According to the data seen by Channels Television, Dangote Refinery also imported some 136,124 metric tonnes of crude oil as of Friday.
The development was after the Nigerian National Petroleum Company Limited (NNPC Ltd.) and Dangote Petroleum Refinery & Petrochemicals (DPRP) pledged to deepen collaboration aimed at ensuring Nigeria’s energy security and advancing shared prosperity for Nigerians.
The commitment was made during a courtesy visit by the President/Chief Executive of Dangote Group, Aliko Dangote, and his delegation to the Group CEO of NNPC Ltd., Bayo Ojulari, and members of the company’s Senior Management Team at the NNPC Towers, on Thursday.
Dangote said: “There is no competition between us, we are not here to compete with NNPC Ltd. NNPC is part and parcel of our business and we are also part of NNPC. This is an era of co-operation between the two organizations.”
In his remarks, the GCEO, Bashir Bayo Ojulari, assured Dangote of a mutually beneficial partnership anchored on healthy competition and productive collaboration.
See Imports updates below…
Lagos Port Updates
SL AREMU
- Terminal: Fatgbems
- Product: PMS
- Quantity: 15,000 MT
- Status: Arrived 6 May, Berthed 9 May
CAPT GREGORY
- Terminal: Menj Oil
- Product: PMS
- Quantity: 10,500 MT
- Status: Arrived 8 May, Berthed 9 May
Warri Port Activity
BURAN
- Terminal: NIPCO Warri
- Product: AGO
- Quantity: 7,600 MT
- Status: Arrived 8 May, Berthed 9 May
MATRIX TRIUMPH
- Terminal: Matrix Energy
- Product: PMS
- Quantity: 15,000 MT
- Status: Arrived 8 May, Berthed 9 May
Dangote Refinery Update
POPI SAZAKLIS
- Terminal: Dangote Refinery
- Product: Crude Oil
- Quantity: 136,124 MT
- Status: Arrived 23 April, Berthed 8 May
