Marketers begin lifting petrol from Dangote refinery

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has commenced lifting Premium Motor Spirit, commonly known as petrol, from the Dangote refinery in the Ibeju-Lekki area of Lagos State.

The Star had reported that IPMAN, in November 2024, reached an agreement with the Dangote refinery to lift fuel directly.

The IPMAN National President, Abubakar Garima, who disclosed this after a meeting of the National Working Committee of the association in Abuja on November 11, said the partnership will ensure a steady and affordable supply of petrol across the country.

Girima added that the association was able to secure the agreement after meeting with Aliko Dangote and his management team in Lagos.

“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,” he stated.

Garima further urged IPMAN members to support the Dangote refinery, citing backward integration benefits and positive impacts on Nigeria’s Foreign Exchange market.

However, it was gathered that IPMAN members have so far lifted millions of litres of petrol from the Dangote refinery in Lagos.

The National Publicity Secretary of IPMAN, Chinedu Ukadike, disclosed that the lifting of petrol from the Dangote refinery commenced in late November.

Ukadike said independent marketers started the prior loading of the product through MRS Oil.

Dangote refinery reduces petrol price to N970 for marketers

This, he said, had been taking place pending the completion of the terms of the agreement earlier reached by the refinery.

“There is a pre-arrangement we had. Our experts are putting things together for our documentation. Dangote refinery made some products available to us in MRS and we started the loading gradually (in November). We are buying Dangote products through MRS,” Ukadike told Punch.

Asked if this is not like buying through a middleman, he refuted the claim, saying: “This is not the issue of a middleman. We have to start with something first to bridge that gap.”

Ukadike added that the decision by the Dangote refinery to reduce petrol price from N990 per litre to N970 had increased the demand for the product in the local market.

He further stated that the deal between IPMAN and Dangote influenced the drop in prices of petroleum products, especially as it eliminated middlemen and profiteering.

“The most important thing is that IPMAN members have started buying directly from Dangote. We’ve been uploading products stored in the tank and meant for commuters,” he added.

The Star