IPMAN plans refinery ownership, directs members to buy Dangote petrol
Story by Martha Gwary
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced plans to venture into refinery ownership, subject to regulatory approval, as part of efforts to deepen domestic refining and reduce Nigeria’s reliance on imported petroleum products.
The association has also directed its members nationwide to prioritise the purchase of Premium Motor Spirit (PMS) from the Dangote Petroleum Refinery, describing the move as critical to strengthening local refining capacity, stabilising fuel supply and supporting downstream sector reforms.
IPMAN National President, Abubakar Shettima, disclosed this on Thursday in Abuja while addressing journalists on recent developments in the oil and gas sector, including leadership changes at the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
Shettima said IPMAN’s partnership with the Dangote refinery was expanding and would significantly boost petrol supply across the country.
He stated that the new regulatory leadership must prioritise policies that promote domestic refining, discourage fuel importation and create an enabling framework for independent marketers to invest in and operate refineries in Nigeria.
According to him, Nigeria should no longer import petroleum products that can be refined locally, stressing that national interest must guide all regulatory decisions.
He said reducing fuel importation would attract foreign investment into the downstream sector, deepen value addition and strengthen the economy.
Shettima announced that from January 2026, the Dangote Petroleum Refinery would begin direct supply of PMS to registered IPMAN members, including free delivery to filling stations nationwide.
He said the arrangement would further reduce pump prices and ensure steady fuel supply, given that IPMAN controls over 80 per cent of the PMS retail market.
The IPMAN president therefore called on all members to prioritise patronage of the Dangote refinery, describing it as the most affordable source of PMS currently available.
He commended President Bola Ahmed Tinubu for restructuring the leadership of the NMDPRA and NUPRC, describing the decision as key to restoring confidence in the oil and gas sector.
Shettima said the growing partnership between IPMAN and the Dangote refinery reflected the President’s pragmatic leadership and sound judgement.
He warned that continued fuel importation alongside local refining distorted market dynamics, drained foreign exchange, destroyed jobs and discouraged investment.
While congratulating the new regulatory chiefs, he urged the NMDPRA to urgently settle outstanding bridging claims owed to IPMAN members, estimated at over ₦190 billion.
READ ALSO: IPMAN, Dangote strike deal for direct petrol, diesel lifting
Nigeria has historically depended on imported petroleum products due to the collapse of state-owned refineries, a situation that has strained foreign exchange reserves and exposed the economy to global oil price volatility.
The commencement of operations at the 650,000 barrels-per-day Dangote Petroleum Refinery has reshaped the downstream sector, intensifying debates over fuel importation, pricing and regulatory oversight.
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