Attracted by the bulk-purchase agreement incentives being offered by the Dangote Petroleum Refinery, more oil marketers in the country are jostling to be listed as beneficiaries of the agreement.
The bulk-purchase agreement, the petroleum marketers reasoned, offers a guaranteed price stability as against purchase from depot owners whose price is open to incessant upward review.
Recall that two prominent players in Nigeria’s downstream oil and gas sector – Ardova Plc and Heyden Petroleum – have entered into a bulk purchase agreement with the Dangote Petroleum Refinery after MRS, a situation they have leveraged on to sell petroleum at a much cheaper pump price.
The independent marketers are referring to the benefits of the bulk-purchase agreement with Dangote Refinery as being enjoyed by the three leading oil marketers, MRS, Ardova Plc and Heydey, who have entered into the purchase agreement with Dangote refinery and are able to retain their lower pump price.
National President of Independent Petroleum Marketers Association (IPMAN), Alhaji Abubakar Maigandi Garima, has confirmed that the association members are eager to sign on with Dangote Refinery and that they have been advised to do so by organising themselves to pool resources together to be able to qualify for the bulk-purchase agreement.
