Economy
Dangote plan to distribute products will address losses, IPMAN
- /home/naijuinz/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 27
https://naijablitznews.com/wp-content/uploads/2024/09/images-2024-09-03T084333.396.jpeg&description=Dangote plan to distribute products will address losses, IPMAN', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
- Share
- Tweet /home/naijuinz/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 72
https://naijablitznews.com/wp-content/uploads/2024/09/images-2024-09-03T084333.396.jpeg&description=Dangote plan to distribute products will address losses, IPMAN', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
Distribution of petroleum products from the 650,000 barrels per day Dangote Petroleum Refinery will save marketers losses due to price crash.
Independent Petroleum Marketers Association of Nigeria (IPMAN) National Public Relations Officer, Chief Chinedu Ukadike made this known to The Nation on phone on Friday.
He said since the refinery would power its 4,000 tankers for the distribution with the Compressed Natural Gas (CNG) which is cheaper, it means the marketers would get it cheaper and vend it cheaper.
“It will help because with the CNG trucks products will be cheaper in so many areas. And once we the independent marketers get products cheaper we will sell in our filling stations cheaper. So, the cheaper we buy, the cheaper we sell,” he said.
He further explained that the marketers would now activate their pump prices on the receipt of the products in the retail outlets without incurring losses.
Ukadike said the fear of price crashing before the product’s arrival at the fuel station has become history.
He said whenever they place an order banks would be present to record the price and bear part of the liability in the case of losses.
He described the new market regime from Dangote as a buffer zone.
Asked whether distribution of petroleum products by the refinery would address previous losses due to sudden price crash, the IPMAN National PRO said, “Definitely, it will save us because as at the point the product arrives at your filling station, you activate your price.
“Most of us don’t normally buy products in bulk before we will be able to get trucks to the stations, price will fall.
“So when we make order and also bringing in the banks also giving us credit facilities, when we take credit facilities from the bank, the bank will also bear part of losses because they will see how much we buy the product, how much Dangote is selling to us. So it will be a buffer zone.”
According to him, the concern of the marketers is energy security and compliance with the deregulation policy.
He applauded the refinery for the new market strategy of trucking products to willing marketers.
Ukadike allayed the fear that the 4,000 tankers would overshadow the independent marketers in the business.
According to him, 4,000 trucks are negligible compared to the over 50,000 tankers of the IPMAN members.
He wondered “what is 4,000 trucks? Independent marketers we have over 50,000 trucks. So 4000 is infinitesimal in the distribution. But it will also aid. So we are not perturbed at all, we are battle ready.”
Ukadike said IPMAN is at peace with anything that would fasten distribution of petroleum products in the country and ensure energy security.
He however appealed to the refinery to extend a hand of fellowship to the IPMAN members in order to also savour the opportunity.
He said the deregulation policy is the survival of the fittest, which would also make the marketers change their tactics.
He revealed that owing to the dynamics of the market, most of the Independent marketers have now resorted to round the clock sales.
He added, “We are re- planning our filling stations to be able to compete with other stakeholders in the industry. We are battle ready for this deregulation. There is no going back.”
Dollar To Naira Exchange Rate Today 27 January 2023(Black Market)
The Black Market Dollar-to-Naira Exchange Rate for 28th May 2026 Can Be Accessed Below.
NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate, and the price can change (high or low) within hours.
The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.
Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 28th May 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1393 and buy at ₦1385 on Thursday, 28th May, 2026, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate ₦1393
Buying Rate ₦1385
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1376
Lowest Rate ₦1374
The Black Market Dollar-to-Naira Exchange Rate for 26th May 2026 Can Be Accessed Below.
IMPORTANT NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate, and the price can change (high or low) within hours.
The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.
Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 26th May 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦11395 and buy at ₦1385 on Tuesday, 26th May, 2026, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate ₦1395
Buying Rate ₦1385
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1377
Lowest Rate ₦1373
Nigeria’s Gross Domestic Product, GDP, grew by 3.89 percent in real terms in the first quarter of 2026, as the non-oil sector accounted for 96.08 percent.
The National Bureau of Statistics, NBS, disclosed this in its GDP report for Q1 2026 released on Monday.
The Q1 GDP figure is higher than the 3.13 percent recorded in the similar period in 2025.
Details of the report showed that nominal GDP stood at N110.79 trillion, while in real terms it is N51.26 trillion as of Q1 2026.
NBS further said that the services sector contributed more to the aggregate GDP at 57.73 percent in the period under review.
However, when compared to the fourth quarter of 2025, the country’s GDP slowed by 0.10 percent.
“Gross Domestic Product grew by 3.89 percent (YoY) in real terms in Q1 2026, higher than the 3.13 percent recorded in Q1 2025.
“In terms of share of the GDP, the services sector contributed more to the aggregate GDP in Q1 2026 at 57.73%,” NBS stated.
The report showed that the oil sector contributed 3.92 percent while the non-oil sector accounted for 96.08 percent.
NDLEA uncovers illicit drugs concealed in water purifier machines from Europe(Photos)
‘To Keep It Coming’: Reflections on Framework Building, Idea Formation and Scholarly Reception
LP Approves Dr Chibuzo Okereke As 2027 Presidential Candidate
-
Sports20 hours agoRead Major Talking Points Ahead Of PSG v Arsenal Champions League Final Today
-
News20 hours agoEach time I sleep with my wife it’s pay as you go, man tells court
-
News22 hours agoFinally, PDP Faction Presents 2027 Certificate of Return to Jonathan at Abuja Convention
-
News20 hours agoRema finally reveals why he ended his relationship with girlfriend
-
News19 hours agoKWARA 2027: A FOOD FOR THOUGHT AND A POINT OF DECISION
-
Foreign8 hours agoRussia claims deadly drone strike varsity hostel killed 21 students
-
News16 hours ago2027: ADC flag bearer ,Zakari Mohammed unveils security devt agenda for Kwara
-
News8 hours ago2027: Rivers Has No Option But To Back Tinubu, Says Wike
Warning: Undefined variable $user_ID in /home/naijuinz/public_html/wp-content/themes/zox-news/comments.php on line 49
You must be logged in to post a comment Login