The hopes of Independent Petroleum Marketers Association of Nigeria (IPMAN) members to commence immediate purchase petrol directly from Dangote Refinery at a reduced price have been dashed. The Vice President of Dangote Group informed them that an existing agreement with NNPC Ltd. remains in effect, necessitating the suspension of direct sales to marketers until both parties agree to terminate or amend the agreement
This was revealed by the Independent Petroleum Marketers Association of Nigeria (IPMAN) National Executive Council Wednesday, 16th October 2024, in Abuja, following a pivotal meeting with the management of Dangote Refinery. The meeting, spearheaded by Dele Tajudeen, the IPMAN Zonal Chairman for the South West, discussed crucial matters surrounding the direct purchase of petroleum products from the refinery.
In an internal memo addressed to IPMAN members, Tajudeen stated:
“Good morning Distinguished Marketers of the Western Zone.
The IPMAN National Vice President, Zonal Chairman Western Zone, IPMAN Members, and PTD Zonal Chairman held a productive meeting with the Vice President of Dangote Group and other key officials of Dangote Refinery on the 15th of October, 2024. The discussions focused on the potential for direct purchase of products from Dangote Refinery.
The Vice President of Dangote confirmed that the Minister of Finance and the Coordinating Minister of Petroleum have directed the refinery to begin selling products directly to registered marketers. However, they are still bound by an existing agreement with NNPC Ltd. Until that agreement is either terminated or adjusted by both parties, direct sales to marketers will remain on hold.
As a result, the IPMAN National Executive Council is meeting today in Abuja to address this matter. Marketers who have not yet officially registered as IPMAN members are strongly advised to do so promptly, as unregistered marketers will not benefit from the opportunity to lift products from Dangote Refinery once direct sales begin. Please reach out to your Unit Executive for more details.
We sincerely appreciate your continuous support.”
The meeting in Abuja aims to outline the next steps for IPMAN members concerning the anticipated direct purchase arrangement, which could greatly influence petroleum distribution throughout Nigeria. Marketers are encouraged to actively adapt to these developments to fully capitalize on the opportunities presented by Dangote Refinery once sales begin.
