The Independent Petroleum Marketers Association of Nigeria (IPMAN) has secured a deal with Dangote Petroleum Refinery to purchase Premium Motor Spirit (PMS) directly from the refinery. Over 30,000 IPMAN members will buy PMS at N940/litre (vessel transportation) and N990/litre (truck transportation).
This agreement aims to ensure consistent and affordable supply nationwide.IPMAN President, Abubakar Garima, confirmed the deal on Channels Television, stating that pump prices at IPMAN retail outlets will drop. Direct purchases from the 650,000-barrel-per-day refinery eliminate payments to intermediaries like NNPC and depot owners, reducing costs.Garima projected a potential price reduction of N50 or more, depending on location.
For instance, Maiduguri’s current price of N1,200/litre may drop to N1,150. He attributed the reduction to eliminated third-party profits and potential crude oil price decreases.The agreement also addresses fuel scarcity. With direct refinery purchases, marketers will receive products promptly, ensuring timely supply to filling stations. Additionally, the NNPC has begun settling its N4 billion debt to marketers. This partnership promises improved fuel availability and pricing stability nationwide.
