Oil marketers are making good use of the Dangote Petroleum Refinery's bulk-purchase agreement incentives after depot owners increased the ex-depot price of premium motor spirit (PMS) to N950 per litre from N909 per litre.

Since December, the refinery has continuously supplied the product at N909 per litre, in spite of the increase in the price of crude oil globally.

The petroleum marketers have turned to Dangote Refinery because, according to them, it offers guaranteed price stability as opposed to buying from depot owners whose prices are subject to constant upward reviews.

This is because the depot owners based their price increase on the price of crude oil on the global market, which has forced the majority of independent marketers to raise their pump prices as well to reflect the new, higher price from the depot owners.

Abubakar Maigandi, National President of the Independent Petroleum Marketers Association (IPMAN), stated that the association members are eager to join Dangote Refinery and have been encouraged to do so by banding together to pool their resources in order to be eligible for the bulk-purchase agreement.

He added that since IPMAN can purchase goods directly from the Dangote Refinery, they can no longer rely on depot owners.