The Independent Petroleum Marketers Association of Nigeria (IPMAN) has reached an agreement with Dangote Refinery to lift products directly. According to reports, such a partnership is expected to increase efficiency, affordability, and economic growth for Nigeria’s petroleum industry.
This was declared in Abuja on Monday by IPMAN National President Abubakar Garima, following a meeting of the association’s National working Committee. According to Garima, the collaboration will guarantee a consistent and reasonably priced supply of PMS products across the country.
Girima announced that following a meeting with Aliko Dangote and his management team in Lagos, Dangote Refinery has agreed to supply IPMAN with PMS, AGO, and DPK directly for distribution to our depots and retail outlets.
Citing the advantages of backward integration and the favourable effects on Nigeria’s foreign exchange market, Garima asked IPMAN members to back Dangote Refinery. Garima said he was certain that talks with Dangote would result in cheaper prices.
Regarding CNG (Compressed Natural Gas), according to the president of IPMAN, the association is now negotiating with the presidential CNG initiative and is getting ready for a smooth transition to CNG refill stations around the country.
It is anticipated that this collaboration will boost Nigeria’s petroleum sector’s productivity, affordability, and economic expansion.
The Dangote Refinery promised at the conference to start supplying goods to more than 30,000 IPMAN members and 150,000 retail locations across the country. It is anticipated that this action will cut expenses, remove intermediaries, and guarantee a consistent supply.
IPMAN had previously voiced dissatisfaction over the challenges traders were facing when attempting to lift goods from the Dangote Refinery. Despite having paid N40 billion to the Nigerian National Petroleum Company Limited (NNPCL), IPMAN bemoaned the fact that its members were unable to load petrol from the Dangote Refinery in Lagos.
Dangote Refinery, however, denied IPMAN’s allegation, stating that it has not been compensated by IPMAN for the procurement of refined petroleum products
