The Independent Petroleum Marketers Association of Nigeria (IPMAN) has started lifting Premium Motor Spirit (PMS), also known as petrol, directly from the Dangote Refinery located in Ibeju-Lekki, Lagos State. This follows an agreement reached in November 2024 between IPMAN and the refinery to facilitate direct fuel supply to independent marketers.

IPMAN’s National President, Abubakar Garima, announced the development after a meeting of the association’s National Working Committee in Abuja on November 11. He described the partnership as a significant step towards ensuring a steady and affordable supply of petrol across Nigeria. Garima explained that the agreement was finalized after discussions 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 stated. He also encouraged IPMAN members to support the Dangote Refinery, emphasizing the benefits of backward integration and its potential to positively impact Nigeria’s foreign exchange market.

Reports indicate that independent marketers have lifted millions of litres of petrol from the Dangote Refinery since late November. IPMAN’s National Publicity Secretary, Chinedu Ukadike, explained that the lifting initially commenced through MRS Oil, pending the completion of documentation processes between IPMAN and the refinery.

“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,” Ukadike explained. He addressed concerns about using MRS Oil, clarifying that it was a temporary measure to ensure smooth operations while bridging supply gaps.

The Dangote Refinery’s decision to reduce petrol prices from N990 per litre to N970 has also increased local demand. According to Ukadike, the arrangement with IPMAN has contributed to lower petroleum product prices by eliminating intermediaries and minimizing 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. This collaboration is expected to strengthen Nigeria’s fuel supply chain and enhance the availability of petroleum products at competitive prices.