IPMAN, DANGOTE REACH AGREEMENT ON DIRECT LIFTING OF PETROLEUM PRODUCTS

 

Dangote Refinery.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has secured an agreement with Dangote Refinery to lift products directly.

Channels TV reports that IPMAN National President, Abubakar Garima, announced this in Abuja on Monday after a meeting of the National Working Committee of the Association.

He said the partnership will ensure steady, and affordable supply of PMS products nationwide.

Girima said 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.”

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

Regarding pricing, Garima expressed confidence that negotiations with Dangote would yield lower rates.

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 supply of products to over 30,000 IPMAN members and 150,000 retail outlets nationwide.

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This move is expected to eliminate middlemen, reduce costs, and ensure steady supply.

Earlier, IPMAN had expressed frustration at how difficult marketers were finding it to lift products from the Dangote Refinery.

IPMAN lamented that its members can’t load petrol from the Dangote Refinery in Lagos despite having paid ₦40bn to the Nigerian National Petroleum Company Limited (NNPCL).

However, Dangote Refinery refuted the claim by IPMAN, clarifying that it has not received any payments from IPMAN to purchase 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.”

Consequently, the company said it cannot be held responsible for any payments made to other entities, as the payment in mention has been made through NNPCL, and not Dangote Refinery.

It added that in the same vein, NNPCL has neither approved, nor authorised the company to release our Premium Motor Spirit (PMS) to IPMAN.

While emphasizing that it can meet Nigeria’s demand for all petroleum products, Dangote Refinery advised IPMAN to register directly with the company and make payments for petroleum products.