IPMAN, Dangote Refinery Seal Direct Petrol Supply Deal

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has secured a landmark agreement with Dangote Refinery for the direct supply of petroleum products, a move that is expected to revolutionize the distribution and affordability of fuel in the country.

In a statement issued on Monday at a press briefing in Abuja, IPMAN’s National President, Abubakar Garima, confirmed that the deal would facilitate the direct supply of Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), and Dual Purpose Kerosene (DPK) to IPMAN’s vast network of depots and retail outlets across the nation.

The agreement, which follows months of negotiations, is expected to ensure a steady and affordable supply of fuel to Nigerian consumers.

“We are pleased to announce that after productive discussions with Aliko Dangote and his management team in Lagos, Dangote Refinery has agreed to supply IPMAN directly with PMS, AGO, and DPK,” Garima said.

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“This partnership will not only improve product availability across Nigeria but also help reduce costs by eliminating middlemen.”

Garima further emphasized the strategic significance of this collaboration, particularly in terms of enhancing Nigeria’s energy security.

He urged IPMAN members to fully support Dangote Refinery, highlighting that the move would not only create more job opportunities but also support the federal government’s agenda of economic growth through the promotion of local refineries.

“This agreement aligns with the renewed hope agenda of President Bola Tinubu’s administration,” Garima added.

“It promotes backward integration, boosts Nigeria’s foreign exchange reserves, and reinforces the role of Nigerian refineries in meeting the country’s energy needs.”

Dangote Refinery, the largest in Africa and Europe, has already commenced the production of key petroleum products, including petrol, diesel, and aviation fuel.

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The refinery has ambitious plans to supply these products to over 30,000 IPMAN members and 150,000 retail outlets across the country, making it a key player in the Nigerian fuel supply chain.

The partnership is expected to significantly increase efficiency in the domestic fuel market, as Dangote Refinery will now bypass intermediaries, thereby reducing supply chain costs.

This move is also poised to alleviate some of the pressure on the foreign exchange market, with an expected increase in locally refined product availability.