Dangote Refinery and the Independent Petroleum Marketers Association of Nigeria (IPMAN) have come to an agreement regarding the direct lifting of goods.
Abubakar Garima, the National President of IPMAN, made this announcement in Abuja on Monday after the National Working Committee meeting.
He stated that this partnership will ensure a steady and affordable supply of PMS products nationwide.
“We are happy to announce that Dangote Refinery has agreed to supply IPMAN with PMS, AGO, and DPK directly for distribution to our depots and retail outlets,” Garima stated following a meeting with Aliko Dangote and his management team in Lagos.
Garima emphasised the advantages of backward integration and the favourable effects on Nigeria’s foreign exchange market while urging IPMAN members to support Dangote Refinery.
Garima stated that he was certain that discussions with Dangote would result in lower prices.
Regarding Compressed Natural Gas (CNG), the President of IPMAN stated that the Association is actively negotiating with the presidential CNG initiative and is getting ready for a seamless rollout of CNG refill stations around the country.
This partnership aims to boost efficiency, affordability, and economic growth within Nigeria’s petroleum industry.
At the meeting, Dangote Refinery pledged to begin supplying products to over 30,000 IPMAN members and 150,000 retail outlets across the country. This move is expected to cut out middlemen, lower costs, and ensure a stable supply.
Challenges in Lifting from Dangote
Previously, IPMAN had voiced concerns over difficulties marketers faced when attempting to lift products from Dangote Refinery. The association reported that its members were unable to load petrol from the Dangote Refinery in Lagos despite having paid ₦40bn to the Nigerian National Petroleum Company Limited (NNPCL).
However, Dangote Refinery denied these claims, clarifying that it has not received any payments from IPMAN for refined products.
The Refinery added that while discussions with IPMAN are ongoing, “it is misleading to suggest that IPMAN members face difficulties loading refined products from our Refinery, as we currently have no direct business dealings with them.”
Consequently, Dangote Refinery stated that it cannot be held responsible for payments made to other entities, as the mentioned payment was made through NNPCL, not directly to Dangote.
It further stated that NNPCL has neither authorised nor approved the release of Premium Motor Spirit (PMS) to IPMAN from its facilities.
Dangote Refinery reiterated its capacity to meet Nigeria’s demand for all petroleum products and advised IPMAN to register directly with the company and make payments for its products.