The Dangote Petroleum Refinery has agreed to supply 60 million litres of Premium Motor Spirit (PMS), commonly known as petrol, to the Independent Petroleum Marketers Association of Nigeria (IPMAN) on a weekly basis, totaling 240 million litres per month.
According to sources within the association, the supply will depend on demand, with the refinery offering to provide this volume directly to IPMAN members.
The $20 billion refinery, located in Lekki, is also looking to secure billions of dollars to import crude oil and boost its production capacity.
Meanwhile, fuel prices are reportedly declining due to increased competition following the deregulation of the sector, particularly as the Nigerian National Petroleum Company Limited (NNPC) and other marketers have imported over two billion litres of PMS in just 42 days.
Chinedu Ukadike, the National Publicity Secretary of IPMAN, confirmed that the association’s members are now able to lift any amount of PMS allocated to them directly from Dangote Refinery, highlighting that independent marketers already handle the majority of fuel distribution in Nigeria.
He also pointed out that IPMAN recently signed an agreement with Dangote to purchase PMS directly from the refinery without any intermediaries.
Regarding the timeline for the start of direct supply, Ukadike noted that the details would be announced once final discussions between both parties are concluded. He expressed confidence that the direct supply would begin before the end of November.
