Dangote Refinery and the Independent Petroleum Marketers Association of Nigeria (IPMAN) have reached an agreement for direct product lifting.
This was declared in Abuja on Monday following a meeting of the Association’s National Working Committee by IPMAN National President Abubakar Garima.
According to him, the collaboration will guarantee a consistent and reasonably priced supply of PMS products across the country.
The statement comes following a meeting with Aliko Dangote and his management team in Lagos. Girima said:
“We are happy to announce that Dangote Refinery has agreed to supply IPMAN with PMS, AGO, and DPK directly for distribution to our depots and retail outlets,”
Citing the advantages of backward integration and the favourable effects on Nigeria’s foreign exchange market, Garima asked IPMAN members to back Dangote Refinery. Garima was confident that talks with Dangote would result in a price agreement.
On Compressed Natural Gas (CNG), The IPMAN President said the Association is preparing for a seamless transition to CNG refill stations nationwide as it is currently negotiating with the presidential CNG initiative; a partnership expected to increase efficiency, affordability, and economic growth for Nigeria’s petroleum industry.
At the meeting the Dangote Refinery, pledged to commence supply of products to over 30,000 IPMAN members and 150,000 retail outlets nationwide. This will in turn eliminate middlemen, reduce costs, and ensure steady supply.
