New Fuel Price Expected As IPMAN, Dangote Reach Agreement | Details

A New pump price of petrol may be in the offing as the Independent Petroleum Marketers Association of Nigeria (IPMAN) has secured an agreement with Dangote Refinery to lift products directly.

IPMAN National President, Abubakar Garima announced this to newsmen in Abuja on Monday, November 11, after a meeting of the National Working Committee of the Association.

He said the partnership will ensure steady, affordable supply of PMS products nationwide. He stated:

“After meeting with Alh. 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. He continued:

“IPMAN members should rely on Dangote Refinery and Nigerian Refineries for white products, creating more job opportunities and supporting President Bola Tinubu’s renewed hope agenda.”

Regarding pricing, Garima expressed confidence that negotiations with Dangote would yield lower rates.

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On Compressed Natural Gas (CNG), The IPMAN President said the Association is preparing for a seamless transition to CNG refill stations nationwide. He added:

“CNG has immense potential to boost Nigeria’s economy. IPMAN is committed to supporting this initiative and partnering with the Federal Government for its success.”

This partnership is expected to increase efficiency, affordability, and economic growth for Nigeria’s petroleum industry.

The Dangote Refinery has already commenced production of diesel and aviation fuel, with plans to supply 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.