Petrol Price To Drop As IPMAN Commences Lifting From Dangote Refinery
The Independent Petroleum Marketers Association of Nigeria (IPMAN), has said that its members have started lifting Premium Motor Spirit (PMS), also known as petrol, directly from the Dangote Refinery located in Ibeju-Lekki, Lagos State. Abubakar Garima, National President of IPMAN, who announced this said this followed an agreement reached in November 2024, between his Association and Dangote Refinery to facilitate direct fuel supply to independent marketers.
Garima, who stated this after a meeting of IPMAN’s National Working Committee in Abuja, described the partnership between Dangote Refinery and the Association as a significant step towards ensuring a steady and affordable supply of petrol across the country, adding that the agreement was finalized after discussions with Aliko Dangote and his management team in Lagos.
He encouraged IPMAN members to support the Dangote Refinery, stressing the benefits of backward integration and its potential to positively impact Nigeria’s foreign exchange market.
Following the agreement, it was gathered that the independent marketers have lifted millions of litres of petrol from the Dangote Refinery since late November.
Also speaking on the development, Chinedu Ukadike, National Publicity Secretary of IPMAN, said the lifting initially commenced through MRS Oil, pending the completion of documentation processes between IPMAN and the refinery.
According to Ukadike; “There is a pre-arrangement we had. Our experts are working on the documentation. Dangote Refinery made products available to us through MRS, and we started loading gradually in November”.
The IPMAN’s spokesman also addressed concerns about using MRS Oil, saying that it was a temporary measure to ensure smooth operations while bridging supply gaps.
Ukadike also said that the agreement reached between Dangote Refinery and IPMAN has contributed to lower petroleum product prices by eliminating intermediaries and minimizing profiteering.
He further said; “The most important thing is that IPMAN members have started buying directly from Dangote. We have been uploading products stored in the tank and meant for commuters”.
Ukadike explained that the collaboration is expected to strengthen Nigeria’s fuel supply chain as well as enhance the availability of petroleum products at competitive prices.
