An agreement to lift products directly has been reached between Dangote Refinery and the Independent Petroleum Marketers Association of Nigeria, or IPMAN.
Following a meeting of the Association’s National Working Committee in Abuja on Monday, IPMAN National President Abubakar Garima made this announcement.
After meeting with Aliko Dangote, Chairman of the Dangote Group, Girima declared, “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.”
Garima also said he was confident that talks with Dangote would result in cheaper prices. Citing the advantages of backward integration and the favourable effects on Nigeria’s foreign exchange market, he asked IPMAN members to support Dangote Refinery.
Regarding compressed natural gas, or CNG, the president of IPMAN stated that the Association is actively negotiating with the presidential CNG initiative in order to ensure a smooth transition to CNG refill stations around the country.
According to information obtained at the conference, the Dangote Refinery promised to start supplying goods to more than 30,000 IPMAN members and 150,000 retail locations around the country.
It is anticipated that the action will cut expenses, remove intermediaries, and guarantee a consistent supply.
The difficulty marketers faced in stealing products from the Dangote Refinery had been a source of aggravation for IPMAN. However, Dangote Refinery denied IPMAN’s assertion.
