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Dangote refinery to receive proposal from fuel offtakers

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  Precursory to the completion of Dangote oil Refinery the MAJOR OIL MARKETERS ASSOCIATION of NIGERIA (MOMAN) has expressed intention to engage the management of the company on commercial terms regarding the lifting of its refined petroleum products (AGO/PMS/DPK)

The marketers who toured the 650,000 barrels per day single train refinery in Ibeju Lekki Lagos recently expressed the belief that Dangote oil refinery would help remove the various bottle neck associated with the importation of petroleum products into the country.

Managing director 11 Plc/ chairman (MOMAN) Mr Tunji Oyebanji, speaking after the tour of the oil refinery said the oil marketers were eagerly waiting for the completion of the refinery which is expected to make Nigeria self-sufficient in petroleum refining said “it is our desire to see our members buy refined products (AGO/PMS/DPK) from Dangote refinery, when it comes on stream we are open to discussing commercial terms with regards to the management of Dangote oil refinery regarding the lifting of refined products. The impact the oil refinery will have on the market chain will be changed from a situation whereby a marketer will have to wait for four to five months through import lead time before getting their product.

          The turnaround time is going to be much faster it will be more efficient. Getting product from Dangote refinery will also give us the possibility of getting the product by vessel or by trucking which will have a positive impact on the way business is been done in the downstream sector.

it will move Nigeria from a situation whereby all product that we consume will be available locally which according to him will be a big development and a game changer for us and we are looking forward to its completion the chairman said.

Mr.Oyebanji have always agitated for the deregulation of the downstream oil and gas sector, now with Dangote refinery, it will make it easier to achieve. He continue to say ‘‘the refinery would facilitate the deregulation of the downstream oil sector and I have believed deregulation will come pretty soon when Dangote refinery start working’’.

With an indigenous refinery on ground, petroleum marketers will have an easier access to petroleum products AGO/PMS/DPK without bottlenecks or bureaucracy checks. This could very well lead to stability in the pricing system and a possible fall in prices.

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