With one voice, marketers under different umbrellas of Petroleum products marketers yesterday cried out over the Dangote Petroleum Refinery introduction of sale of products in dollars.
The Independent Petroleum Marketers Association of Nigeria (IPMAN), National President, Alhaji Abubakar Maigandi predicted that the marketers will have issues sourcing the dollars. “In fact, that domination in dollars, it will become difficult for independent petroleum marketers because for them to source dollars is a very difficult situation as we are using Naira in Nigeria,” he said.
The IPMAN boss urged the management of Dangote Refinery to exempt the independent marketers from the payment of dollars for petrol because their customers buy the products in Naira, which is Nigeria’s official and domestic currency. “But we are asking him to allow independent marketers to be buying it in Naira since in our filling stations we pay by Nigeria’s currency,” he said .
Similarly, the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA) National Public Relations Officer, Chief Chinedu Ukadike, predicted that the refinery’s sale strategy will culminate in the increase in pump prices. Demographics
The spokesperson said, “I have not seen the policy statement, but if eventually there is something like that, it will definitely reverse us to another increase in pump prices of petroleum products because now we will be facing two things: the cost of exchange rate and price of crude oil. “Ironically, it will drive pump prices up, which is not good for the economy because we are trying to manage our meagre funds to buy petroleum products,” he said.
Meanwhile, the Petroleum Retail Outlets Owners Association of Nigeria (PETROAN) President, Dr. Billy Harry described buying from the Dangote’s Refinery as importation of products. Although he admitted that as the owner of the business, Dangote has the right to fix the prices, he said the marketers will shop for dollar to buy the product. Ukadike said, “Our reaction is that it is his business. “