IPMAN: Dangote Fuel Prices Higher Than Others, We Need To Help Nigerians

The price of fuel from Dangote Refinery was greater than the price of the product from other suppliers as of last week, according to a statement released on Friday by the Independent Petroleum Marketers Association of Nigeria, or IPMAN.

In addition to saying that members must feel sorry for Nigerians, IPMAN advised them to move where the prices are lower and they can make money.

This was said by IPMAN’s National Assistant Secretary Yakubu Suleiman on Friday during an interview with Arise Television’s Morning Show.

Suleiman maintained that Dangote should be revealing the amount he plans to sell his commodity, arguing that worldwide pricing sets the price of petroleum products.

“International pricing determines prices,” he stated. Dangote should be stating, “This is the price,” on a daily basis. This product will be sold by me.

However, unless he (Dangote) engages the stakeholders, he will not be able to accomplish it. Furthermore, you cannot just state, “Okay, we can only purchase from his own depot.”

“IPMAN cannot simply decide to tell its members to go to the Dangote Refinery, buy their products, and then load up.” We can’t just do that. The system in question is deregulated.
We must source from places where goods are significantly less expensive. After that, we would advise our members to go load the merchandise in any depot where it is less expensive.

Let’s imagine that Dangote sells a product for N1000, while other retailers sell it for N900. We cannot simply state for the sake of saying “All right, go ahead and do it.” We are doing business with Dangote. We don’t make money from it. We have to move where the cost is lower and we can make money. That’s it.

“We are in a deregulated economy, but Dangote is like trying to monopolize the whole issue,” the IPMAN scribe continued. Alright. Tell us if the entire system is monopolized. However, we think deregulation is now the norm.

Dangote is more expensive than other areas, just like it was last week. Because crude has already begun to decline in price, if you can judge that from the global pricing.

He gave N995 per liter as of last week, if I recall correctly, and you need to carry your load and cargo. How much are you going to pay? the goods? What additional fees will your depot incur? How much of it will be sent to the depot? We also anticipate that independent marketers will go out and sell it. Can we go sell? Look, we must feel sorry for Nigerians.

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