Published 9th December 2024
by Chinwendu Eugene
The Independent Petroleum Marketers Association of Nigeria has begun lifting Premium Motor Spirit (petrol) from the Dangote Petroleum Refinery. This follows an agreement reached with the refinery last month by IPMAN.
Our correspondent learned that IPMAN members have so far lifted millions of litres of petrol from the Dangote refinery located in the Lekki free trade zone in Lagos.
The National Publicity Secretary of IPMAN, Chinedu Ukadike, confirmed in an interview with our correspondent that the lifting of petrol from the Dangote refinery started in late November.
According to Ukadike, independent marketers started the prior loading of the product through MRS Oil.
This, he said, had been taking place pending the completion of the terms of the agreement earlier reached by the refinery.
“There is a pre-arrangement we had. Our experts are putting things together for our documentation. Dangote refinery made some products available to us in MRS and we started the loading gradually (in November). We are buying Dangote products through MRS,” Ukadike said.
Asked if this is not like buying through a middleman, he refuted the claim, saying, “This is not the issue of a middleman. We have to start with something first to bridge that gap.”
He stated that it is important to note that independent marketers have started buying PMS directly from the $20bn refinery.
Ukadike maintained that the decision by the Dangote refinery to reduce PMS price from N990 per litre to N970 had increased the demand for PMS in the local market.
He added that the deal between IPMAN and Dangote influenced the drop in prices of petroleum products especially as it eliminated middlemen and profiteering.
“The most important thing is that IPMAN members have started buying directly from Dangote. We’ve been uploading products stored in the tank and meant for commuters.
“The reduction in the price of Dangote PMS has also increased demand. We are also anticipating that the price decrease will strengthen the economy.
“IPMAN’s direct purchase agreement with Dangote influenced the dwindling price of petrol because it has eradicated the issue of middlemen and profiteering of petroleum products. So the era of middlemen has gone. You can access Dangote as quickly as possible once you pay your money,” he noted.
After several days of battling the crude supply crisis, the Dangote refinery commenced the sale of petrol on September 15, 2024, selling to only the Nigerian National Petroleum Company Limited, which served as a middleman between the refinery and the marketers.
The National Publicity Secretary of IPMAN, Chinedu Ukadike, confirmed in an interview with our correspondent that the lifting of petrol from the Dangote refinery started in late November.
According to Ukadike, independent marketers started the prior loading of the product through MRS Oil.
This, he said, had been taking place pending the completion of the terms of the agreement earlier reached by the refinery.
“There is a pre-arrangement we had. Our experts are putting things together for our documentation. Dangote refinery made some products available to us in MRS and we started the loading gradually (in November). We are buying Dangote products through MRS,” Ukadike said.
Asked if this is not like buying through a middleman, he refuted the claim, saying, “This is not the issue of a middleman. We have to start with something first to bridge that gap.”
He stated that it is important to note that independent marketers have started buying PMS directly from the $20bn refinery.
Ukadike maintained that the decision by the Dangote refinery to reduce PMS price from N990 per litre to N970 had increased the demand for PMS in the local market.
He added that the deal between IPMAN and Dangote influenced the drop in prices of petroleum products especially as it eliminated middlemen and profiteering.
“The most important thing is that IPMAN members have started buying directly from Dangote. We’ve been uploading products stored in the tank and meant for commuters.
“The reduction in the price of Dangote PMS has also increased demand. We are also anticipating that the price decrease will strengthen the economy.
“IPMAN’s direct purchase agreement with Dangote influenced the dwindling price of petrol because it has eradicated the issue of middlemen and profiteering of petroleum products. So the era of middlemen has gone. You can access Dangote as quickly as possible once you pay your money,” he noted.
After several days of battling the crude supply crisis, the Dangote refinery commenced the sale of petrol on September 15, 2024, selling to only the Nigerian National Petroleum Company Limited, which served as a middleman between the refinery and the marketers.
