Tag: IPMAN

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has voiced strong opposition to the continued importation of Premium Motor Spirit (PMS) into the country. The association also distanced itself from reports suggesting that the surge in petrol imports in November 2025 was linked to a breakdown in supply arrangements between Dangote Refinery and petroleum marketers, describing such claims as inaccurate and misleading.

According to IPMAN, the report does not reflect the reality experienced by its members. The association emphasised that the commencement of supply from Dangote Refinery has significantly improved product availability nationwide.

Speaking on the issue, IPMAN National President, Abubakar Maigandi Shettima, stated:

“Our members fully support Dangote Refinery. Since supply began, marketers have consistently lifted products without any complaints. We oppose continued importation because Dangote Refinery has the capacity to meet the country’s entire PMS demand.”

Shettima further noted that members are satisfied with the reliability of supply and welcomed the refinery’s commitment to direct delivery to filling stations—a move he described as critical to stabilizing distribution and benefiting consumers. He stressed that improved access to locally refined products has eased supply pressures and boosted confidence among independent marketers, reaffirming IPMAN’s commitment to domestic refining as a sustainable solution for Nigeria’s downstream petroleum sector.

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Similarly, Dangote Petroleum Refinery dismissed the media reports as baseless and inaccurate. In its statement, the refinery clarified that no supply agreement with marketers had collapsed, adding that its engagement with the downstream market was deliberately structured to meet rising demand and enhance access, competition, and efficiency.

The refinery disclosed that supply under the marketers’ arrangement began in October 2025 with an agreed offtake volume of 600 million litres of PMS. This was later increased to 900 million litres in November and further expanded to 1.5 billion litres in December.

“In line with market growth and absorption capacity, volumes were scaled up accordingly. Subsequently, and in line with downstream market liberalisation, we opened PMS supply to all qualified marketers, bulk consumers, and filling station operators,” the statement signed by Group Chief Branding and Communications Officer, Anthony Chiejina, read.

Since December 16, 2025, Dangote Refinery has consistently loaded between 31 million and 48 million litres of PMS daily from its gantry, subject to market demand. These figures, the refinery noted, are verifiable against depot and loading records maintained under routine regulatory oversight.

To broaden participation and improve distribution efficiency, the refinery introduced several measures, including reducing minimum purchase volumes from two million litres to 250,000 litres and offering a 10-day credit facility backed by bank guarantees. These initiatives aim to enhance liquidity, support small and medium-sized operators, and reduce reliance on imported fuel.

The refinery added that this expanded access framework has driven higher utilisation of locally refined PMS and contributed to more competitive retail pricing, with domestic products priced significantly lower than imported alternatives. It also dismissed claims that marketers withdrew due to pricing concerns, affirming that its ex-gantry prices remain competitive, market-responsive, and aligned with import parity indicators while meeting all regulatory and quality standards.

Addressing the surge in petrol imports recorded in November, Dangote Refinery explained that the increase coincided with import licensing decisions approved by the former leadership of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), which sanctioned volumes beyond prevailing domestic demand. The refinery stressed that this development was unrelated to its operational capacity or supply commitments.

Dangote Refinery reaffirmed its commitment to reliable supply, transparency, and the orderly development of a competitive downstream petroleum market. It pledged continued collaboration with regulators and industry stakeholders to support Nigeria’s domestic refining, conserve foreign exchange, moderate prices, and strengthen long-term energy security.

Independent  Petroleum Marketers Association of Nigeria (IPMAN), Eastern Zone, has congratulated the new Group Managing Director of Nigerian National Petroleum Company Limited (NNPC Ltd), Bayo Ojulari.

It hoped for a revitalised downstream sector under his watch. IPMAN noted Ojulari’s track record and lauded the reforms at improving product access, particularly around the system 2E axis.

It, however, alerted to the financial crisis affecting its members. In a letter signed by Prince Bobby Dick (zonal chairman) and Emmanuel Inimgba (zonal secretary), IPMAN said over N5 billion paid by independent marketers into NNPC Retail Ltd’s portal had remained unreleased for over a year.

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The association is seeking intervention from Ojulari to facilitate release of the funds, warning that delay could cripple businesses and destabilise fuel supply chains in Eastern region.The letter noted that the burden and risk of long-distance procurement trips to Lagos had been reduced under the reforms.

IPMAN called for reopening and resuscitation of important depots in Aba, Enugu and Makurdi, citing the relief it would provide for marketers in the Eastern Zone.

“We urgently seek your intervention to resolve this quagmire, as it poses threat to the livelihood of marketers in our association,” the letter concluded.

Mr Chinedu Ukadike, Public Relations Officer (PRO) of the Independent Petroleum Marketers Association of Nigeria (IPMAN), has attributed the recent increase in the price of petroleum products to market deregulation.

Ukadike said this in an interview with the News Agency of Nigeria (NAN) on Tuesday in Abuja, while reacting to the hike in pump prices reported in several parts of the country.

“This is the nature of a deregulated market, prices rise and fall based on market forces and each marketer’s supply costs.

“Consumers should be used to this by now, as pump prices are determined by several factors,” he said.

He explained that key determinants included the price of crude oil, the exchange rate, and other operational costs.

NAN reports that the Nigerian National Petroleum Company (NNPC) Limited and other marketers raised the pump price of Premium Motor Spirit (PMS), also known as petrol, on Monday in Abuja and Lagos.

The increase is reportedly linked to the rise in international crude oil prices.

At NNPC retail outlets in Abuja, the pump price jumped by N50, from N895 to N945 per litre.

Independent marketers also raised prices by between N45 and N60, depending on location and outlet.

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Major stations such as A.Y.M. Shafa, AA Rano, and NIPCO sold PMS at a uniform price of N955 per litre.

Reacting to the development, Mrs Adana Chris, a businesswoman, expressed frustration over the rising costs since fuel subsidies were removed.

“They keep increasing fuel prices without considering the impact on ordinary citizens.

“Every increase leads to a rise in food prices, yet salaries remain the same. We are suffering in silence,” she said.

She called on the government to implement a sustainable solution to the recurring fuel price challenges.

Aminu Ibrahim, a taxi driver, also decried the situation, stating that the continuous fuel price hikes were affecting his ability to earn a living.

“I’m running at a loss. I buy fuel at high cost and can’t recover it from my daily income. My family depends on me, and it’s been tough,” he said.

He appealed to President Bola Tinubu to urgently intervene in the fuel crisis, saying, “It is not easy for many of us anymore.”

(NAN)