By Abiola Olawale
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that it has reached an understanding with the Dangote Refinery owned by Africa’s richest man and business mogul, Alhaji Aliko Dangote, that will allow its members to directly procure petroleum products.
This announcement which was made by IPMAN’s National President, Abubakar Garima, during a press briefing in Abuja had triggered considerable relief amongst products buyers and transporters.
The announcement followed a meeting of the National Working Committee of the Association. Garima said the partnership will ensure a steady and affordable supply of PMS products nationwide.
He said: “We’re pleased 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 also urged members of the IPMAN to lend their support to the Dangote Refinery. He highlighted how this collaboration could positively influence Nigeria’s foreign exchange market, enhancing economic stability and growth.
On the topic of pricing, Garima expressed his optimism, stating that ongoing negotiations with Dangote would likely result in more favourable rates, ultimately benefiting all parties involved.
On Compressed Natural Gas (CNG), The IPMAN President said the Association is preparing for a seamless transition to CNG refill stations nationwide as it is currently negotiating with the presidential CNG initiative
This partnership is expected to increase efficiency, affordability, and economic growth for Nigeria’s petroleum industry.
At the meeting, the Dangote Refinery pledged to commence the supply of products to over 30,000 IPMAN members and 150,000 retail outlets nationwide.
The New Diplomat reports that IPMAN had previously expressed significant frustration regarding the challenges associated with accessing products from the Dangote Refinery.
IPMAN had said that its members are unable to load petrol from the Dangote Refinery in Lagos, despite having disbursed ₦40 billion to the Nigerian National Petroleum Company Limited (NNPCL).
However, Dangote Refinery refuted the claim by IPMAN, clarifying that it did not receive any payments from IPMAN for purchase of refined petroleum products.
It stated that although discussions are ongoing with IPMAN, “it is misleading to suggest that they (IPMAN Members) are experiencing difficulties loading refined products from our Petroleum Refinery, as we currently have no direct business dealings with them.”
