The Independent Petroleum Marketers Association of Nigeria (IPMAN) has officially begun lifting Premium Motor Spirit (PMS) directly from the Dangote Petroleum Refinery.
This development comes after months of negotiation, culminating in a deal struck last month between IPMAN and the $20 billion refinery.
In an exclusive interview with The PUNCH, Chinedu Ukadike, the National Publicity Secretary of IPMAN, confirmed that independent marketers have been lifting petrol from Dangote’s refinery since late November.
“It is true that we started loading petrol directly from Dangote refinery in November. The products are being transported through MRS Oil as part of the arrangement,” Ukadike explained.
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Recall that the agreement follows the refinery’s commencement of petrol sales in September, initially limited to the Nigerian National Petroleum Company Limited (NNPCL), which acted as an intermediary.
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However, inefficiencies in the supply chain led to calls from independent marketers for direct purchases, bypassing the middleman.
Ukadike emphasized that this direct purchase model is a major step forward, stating, “This is not about a middleman; it’s about building a direct relationship with the Dangote refinery. We’re pleased to confirm that independent marketers are now buying PMS directly from Dangote.”.
The Dangote refinery’s recent reduction of petrol prices from N990 per litre to N970 has spurred higher demand, particularly among local marketers. Ukadike believes this move will help stabilize the local fuel market.
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