Dangote refinery, IPMAN seal deal for weekly 60 million-litre fuel supply
The Dangote Refinery has signed a significant agreement with the Independent Petroleum Marketers Association of Nigeria (IPMAN) to supply 60 million litres of Premium Motor Spirit (PMS) weekly.
The deal, confirmed by IPMAN spokesperson Chinedu Ukadike on Sunday, has already led to a marginal reduction in petrol prices across member filling stations nationwide, with drops ranging from ₦10 to ₦50 per litre.
The agreement, first announced by IPMAN on November 11, 2024, allows the association to lift petrol directly from the Dangote Refinery, bypassing intermediaries. The move is expected to stabilize supply and alleviate the burden of high fuel costs for consumers.
Ukadike expressed optimism about the development, stating that the partnership with Dangote Refinery was a strategic step toward addressing price volatility and ensuring consistent fuel availability across the country.
This collaboration comes at a crucial time for Nigeria, as the government and private stakeholders work to mitigate the challenges posed by fuel subsidy removal earlier this year.
Industry observers view this agreement as a potential catalyst for further reductions in fuel prices, benefiting millions of Nigerians and bolstering economic activities across the nation.
“While the discussion is still ongoing, Dangote has offered to give us over 60 million litres depending on our patronage.
“The 60 million litres is to be given weekly. And we can take and distribute it across the country once we start lifting the product from the refinery.
“It is obvious now that the prices of the products have crashed. You would have noticed the drop in prices by N10, N15, something N50 or so, and this is due to competition and deregulation in the oil and gas sector,” he stated.
