The Independent Petroleum Marketers Association of Nigeria (IPMAN) has projected a further decrease in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, following the finalisation of a direct supply agreement with the Dangote Petroleum Refinery.
The deal, which is set to commence in January 2026, will see the refinery supply products directly to IPMAN’s registered members and provide free delivery to their filling stations nationwide.
Announcing this in Abuja on Thursday, the National President of IPMAN, Abubakar Maigandi, stated that the association, which controls over 80 per cent of the retail market, welcomed the partnership as a critical step towards ending the country’s reliance on imported fuel.
Maigandi assured Nigerians that the agreement would guarantee steady supply and eliminate scarcity, as the refinery would cater to the bulk of the market.
“The direct supply to IPMAN members and the free delivery to their filling stations will lead to a further decrease in the pump price of the products,” Maigandi stated, highlighting the cost-saving benefits of eliminating complex import logistics and foreign exchange pressures.
He called on all IPMAN members across the country to prioritise patronising the Dangote Refinery, describing it as the source of “the most affordable prices for all marketers today.”
While applauding the refinery’s existing role in reducing prices, IPMAN used the briefing to launch a strong critique against the current model of fuel importation. The association opposed the “reckless” issuance of import licenses by regulators, arguing that it distorts the market, drains foreign exchange, destroys jobs, and discourages investment.
“Our position has always been to deepen domestic refining to eradicate imports of petroleum products. Continuous import is not an acceptable parallel business model,” Maigandi asserted.
The association also linked the blossoming partnership to the federal government’s recent leadership changes in the sector’s regulatory bodies. IPMAN congratulated the new heads of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), urging them to prioritise national interest.
A key demand presented to the new NMDPRA leadership was the immediate settlement of over N190 billion in outstanding bridging claims owed to IPMAN members.
The marketers advised the new regulator to develop policies that would enable local investors to build refineries, rather than perpetuate dependence on imports.
“Let him have a policy whereby the marketers, like we independent petroleum marketers, can be able to have our refinery and be refining in the country, rather than going outside to be importing,” Maigandi stated.
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