The Independent Petroleum Marketers Association of Nigeria has said that the partnership with Dangote Refinery is expected to improve the availability of fuel and help reduce prices for Nigerians, offering a more stable and affordable supply of petroleum products.
This follows the signing of agreement with the Dangote Petroleum Refinery to directly source petroleum products.
IPMAN’s National President, Abubakar Garima, made this disclosure at a press briefing on Monday in Abuja, following a meeting of the National Working Committee of the association.
Garima clarified that the Dangote refinery has agreed to allow IPMAN to directly lift Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), and Dual Purpose Kerosene (DPK) for distribution to IPMAN depots and retail outlets.
According to him, this new arrangement is set to guarantee a consistent and uninterrupted supply of PMS across Nigeria, ensuring availability at more affordable prices.
He said, “Following our recent meeting with Alhaji Aliko Dangote and members of his top management staff in Lagos, we are happy to state the following; Dangote Refinery has obliged IPMAN to lift PMS, AGO and DPK directly for onward supply to IPMAN depots and retail outlets. That this new arrangement with the Dangote refinery will ensure a steady and ceaseless supply of PMS products all over Nigeria, at an affordable rate for Nigerians also.”
On October 29, the Chairman of Dangote Group, revealed that the Dangote refinery was holding over 500 million litres of petrol but noted that oil marketers had not been purchasing the product.
In response, the IPMAN countered, stating that its members had been unable to load petrol from the refinery for several days.
The natiobal president of IPMAN, explained that the association had paid N40 billion to the Nigerian National Petroleum Company Limited but was still unable to source the product.
However, the Dangote refinery clarified that it had not received any payments from IPMAN for the refined petroleum products.
During the briefing, Garima urged IPMAN members to support the Dangote Refinery, highlighting the benefits of backward integration and its positive impact on Nigeria’s foreign exchange market.
He emphasized that the refinery’s local production would reduce reliance on imports and strengthen the nation’s currency.
On the issue of pricing, Garima expressed confidence that ongoing negotiations with Dangote would result in more competitive and affordable rates for petroleum products.
“All IPMAN members should fully support the Dangote refinery, as it’s the ideal thing to do considering the monumental benefits of backward integration and the medium to long-term impact it will have on the Foreign Exchange markets in Nigeria.
“IPMAN members nationwide should rely on the Dangote refinery and Nigerian rfineries for their white products, as this will translate into ensuring more job opportunities in Nigeria, as well as signify total support for President Bola Tinubu’s Renewed Hope Agenda,” he added.
