- Agreement Will Lead To Lower Petrol Prices- IPMAN
After a protracted face-off, the Independent Petroleum Marketers Association of Nigeria (IPMAN) and Dangote Refinery have reached an agreement on the lifting of petroleum products including the Premium Motor Spirit, popularly known as petrol and diesel directly.
This is even as optimism of lower prices of petrol has emerged following the successful negotiation.
It would be recalled that 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.
Providing an update on the progress made, IPMAN National President, Abubakar Garima, after a meeting of the National Working Committee of the Association announced on Monday that negotiation between both parties went well.
READ ALSO: Register and Pay Directly to Purchase Our PMS -Dangote Refinery to IPMAN
He said the partnership will ensure a steady, and affordable supply of PMS products nationwide.
Girima disclosed that after the 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.
READ ALSO: IPMAN Questions Dangote’s 500 Million Fuel Stock Claim
At the meeting the Dangote Refinery, pledged to commence supply of products to over 30,000 IPMAN members and 150,000 retail outlets nationwide.
This move is expected to eliminate middlemen, reduce costs, and ensure steady supply.
