IPMAN, Dangote strike deal for direct petrol, diesel lifting
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has secured an agreement with Dangote Refinery to lift products directly.
The National President of IPMAN, Abubakar Garima, made the announcement on Monday in Abuja following a meeting of the Association’s National Working Committee.
Garima revealed that the new partnership with Dangote Refinery will ensure a consistent and affordable supply of Premium Motor Spirit (PMS) products across the country.
He explained that after discussions with Aliko Dangote and his management team in Lagos, Dangote Refinery had agreed to directly supply IPMAN with PMS, Automotive Gas Oil (AGO), and Dual Purpose Kerosene (DPK) for distribution to IPMAN’s depots and retail outlets.
Garima called on IPMAN members to support the collaboration, emphasizing the benefits of backward integration and the positive impact it would have on Nigeria’s foreign exchange market.
Garima expressed confidence that ongoing negotiations with Dangote Refinery would result in lower pricing for petroleum products.
On the topic of Compressed Natural Gas (CNG), the IPMAN President stated that the Association is actively preparing for a smooth transition to CNG refill stations across the country. He mentioned that IPMAN is currently in talks with the Presidential CNG Initiative to support this shift.
The partnership with Dangote Refinery, along with the move toward CNG adoption, is expected to enhance efficiency, reduce costs, and drive economic growth within Nigeria’s petroleum sector.
During the meeting, Dangote Refinery committed to supplying products to over 30,000 IPMAN members and 150,000 retail outlets across the country. This initiative is expected to eliminate middlemen, lower costs, and ensure a steady supply of petroleum products.
However, IPMAN raised concerns, stating that its members are unable to load petrol from Dangote Refinery in Lagos, despite having paid ₦40 billion to the Nigerian National Petroleum Company Limited (NNPCL).
In response, Dangote Refinery denied the claim, clarifying that it has not received any payments from IPMAN for the purchase of refined petroleum products. The refinery emphasized that while discussions with IPMAN are ongoing, it is misleading to suggest that IPMAN members are facing difficulties in loading refined products from the facility. Dangote Refinery further stated that it currently has no direct business arrangements with IPMAN and cannot be held accountable for any payments made to other parties, including NNPCL.
The refinery also clarified that NNPCL has not authorized it to release Premium Motor Spirit (PMS) to IPMAN and that any payments made to NNPCL should not be construed as payments made to Dangote Refinery.
Finally, Dangote Refinery assured that it is fully capable of meeting Nigeria’s demand for all petroleum products and encouraged IPMAN to register directly with the refinery and make payments for products accordingly.
Proofreading by Uchechi Ojo, Sub-editor at NeptunePrime.
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