Politics
Dangote Refineries Set To Serve Fuel To 150,000 IPMAN Stations In Ambitious Expansion Plan
Dangote Refineries Set To Serve Fuel To 150,000 IPMAN Stations In Ambitious Expansion Plan....KINDLY READ THE FULL STORY HERE▶
The Dangote Petroleum Refinery has entered into an agreement to supply fuel to approximately 150,000 retail outlets managed by the Independent Petroleum Marketers Association of Nigeria (IPMAN), following a recent meeting between the refinery’s management and IPMAN executives…….CONTINUE READING
The meeting, previously reported by The PUNCH, took place as scheduled, with IPMAN President, Abubakar Maigandi, confirming the successful collaboration. The Dangote refinery has committed to providing petroleum products to the more than 30,000 IPMAN members, and the downstream oil sector regulator is currently reviewing the quality of the refined products before granting approval for market distribution.
Earlier reports highlighted that seven major oil marketers, including 11 Plc, Conoil Plc, Ardova Plc, MRS Oil Nigeria Plc, OVH Energy Marketing Limited, Total Nigeria Plc, and NNPC Retail, had registered with the refinery for the lifting and distribution of refined petroleum products. The Major Oil Marketers Association of Nigeria members confirmed their readiness to distribute fuel once commercial terms were finalized.
Additionally, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) expressed its engagement with the Dangote refinery for product supply. The refinery announced on January 12, 2024, that it had commenced the production of Automotive Gas Oil (diesel) and JetA1 (aviation fuel).
Commenting on the outcome of the meeting, IPMAN’s President stated that the refinery would supply products to all 150,000 IPMAN stations nationwide. He emphasized the positive nature of the meeting, with the expectation of receiving details regarding the products to be supplied.
When asked about the number of IPMAN members and stations, Maigandi stated, “We have 30,000 members, and our retail outlets are 150,000 stations across the country.” He expressed optimism that Dangote’s massive refinery, having started production, would alleviate fuel scarcity, particularly as the refinery plans to start with aviation fuel and diesel.
Regarding pricing discussions, Maigandi clarified that while pricing details were not discussed, it was anticipated that the prices would be slightly lower than the prevailing market rates.
In summary, the collaboration between Dangote Petroleum Refinery and IPMAN, along with other major oil marketers, marks a significant step toward meeting Nigeria’s fuel demands and potentially reducing market prices. The commencement of production by the refinery is expected to have a positive impact on fuel availability and pricing across the country.
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