JUST IN: IPMAN, Dangote Refinery Reach Direct Supply Agreement

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has secured a landmark agreement with Dangote Refinery for the direct supply of petroleum products. This new partnership was announced today by IPMAN’s National President, Abubakar Garima, during a press briefing in Abuja.

Garima revealed that the agreement follows successful negotiations with Aliko Dangote and his management team in Lagos. Under the deal, Dangote Refinery will directly supply IPMAN with Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), and Dual Purpose Kerosene (DPK) for distribution to IPMAN’s depots and retail outlets nationwide.

“This partnership will ensure a steady, affordable supply of PMS products across the country, benefiting both our members and the Nigerian public,” Garima said. He also emphasized the significant role of Dangote Refinery in strengthening Nigeria’s foreign exchange market, thanks to its backward integration approach.

IPMAN members were urged to support Dangote Refinery and Nigerian refineries, reinforcing the vision of creating more job opportunities and boosting local production in line with President Bola Tinubu’s “Renewed Hope” agenda.

This development comes after months of negotiations between IPMAN and Dangote Refinery and is expected to enhance the efficiency of fuel distribution, reduce costs, and promote economic growth. With the Dangote Refinery being the largest in Africa and Europe, it has already begun the production of petrol, diesel, and aviation fuel, aiming to serve over 30,000 IPMAN members and 150,000 retail outlets nationwide.

The direct supply agreement is seen as a crucial step in eliminating middlemen, ensuring a consistent supply, and improving fuel affordability across the country.

More details to follow.