Independent Petroleum Marketers Association of Nigeria (IPMAN) and Petroleum Products Retail Outlets Owners Association of Nigeria are making moves to directly purchase petrol from Dangote's $20 billion refinery, bypassing the Nigerian National Petroleum Company (NNPC) .
The group represented by the Secretary Terlumun James on Wednesday, while addressing Journalists, emphasized the association's commitment to discretion in its business dealings.
This significant shift aims to ensure a steady supply of petroleum products to the market.
According to IPMAN officials, NNPC is now considered a competitor, and buying directly from the refinery makes more sense than going through another marketer.
Furthermore, Terlumun said this move will enable the association to make products more readily available to the public .
Currently, NNPC is the sole off-taker of Premium Motor Spirit (PMS) from the Lekki-based refinery, forcing other marketers to go through the national oil company to access the product.
By dealing directly with Dangote, IPMAN aims to increase the availability of petroleum products in the market.
This development comes as the Nigerian Economic Summit Group urges the Federal Government to avoid long-term monopoly in the downstream oil sector and instead support the Dangote refinery for growth.
IPMAN leaders view NNPC as a competitor, emphasizing that buying directly from the refinery is the best option.
The association's spokesman, Ukadike Chinedu, also noted that meeting with Dangote is crucial for discussing the interests and welfare of IPMAN marketers.
Additionally, officials of IPMAN described NNPC as a fellow competitor, stating that efforts were ongoing to meet with the President of Dangote Group, Alhaji Aliko Dangote, or some management members of the industry.
Althought, the officials maintained that no particular date has been fixed for the meeting, IPMAN leaders emphasised that buying directly from the refinery is right instead of buying from another marketer.
While acknowledging the importance of transparency, James clarified that IPMAN will only share details of its decisions once they are finalized, ensuring all members are adequately informed.
“If IPMAN is trying to meet with Dangote, we may not tell the press, we can call the press the moment we get something from Dangote reasonably. We are very serious businessmen; we are not politicians. Give us some little time, let us tidy up the business we are doing,” James told newsmen.
When reminded that Nigerians take great interest in IPMAN due to its vast network of filling stations across the country, the secretary acknowledged this, stating that the association is well aware of its significant presence
“We are mindful of that because, for the past years, we’ve been in crisis, and that has affected our business. So, we are just coming up and we decided to move forward, and we are planning,” he said.
James spoke further on doing business with the state-owned petroleum company, saying, “NNPC is a registered company now, they are into the business with us. As far as IPMAN is concerned, NNPC is a competitor. IPMAN is being focused. Thank God you know we are planning to have a meeting with Dangote, it’s part of those things.”
Asked if the association wants to buy fuel directly from the Dangote refinery instead of waiting for the NNPC, he retorted, “NNPC is a marketer, they have a way they do their things and IPMAN has its way. We are very focused and organised now and we are trying to see how we can make products available to members of the public. The leadership of IPMAN is trying to ensure that our members have products because if they have, the masses will have peace of mind as they will have products to buy.”
It was learnt that members of the Major Energies Marketers Association of Nigeria currently, are the only ones lifting PMS from the Dangote refinery. It was learned that over 50 million litres of petrol were lifted from the Dangote refinery in the past week by MEMAN members.
