Nigerians could soon see more reliable and affordable fuel access as the Independent Petroleum Marketers Association of Nigeria (IPMAN) has finalized a pivotal fuel supply agreement with the Dangote Refinery. In a press conference in Abuja, IPMAN’s National President, Abubakar Shettima-Garima, shared that this new partnership will enable IPMAN members to lift Premium Motor Spirit (PMS), diesel, and kerosene directly from the Dangote Refinery. By simplifying the supply chain and sourcing fuel locally, the deal aims to stabilize fuel availability and reduce prices, benefiting consumers and the national economy alike.
“This partnership marks a turning point for the Nigerian fuel market,” Shettima-Garima stated. “With the Dangote Refinery’s production capacity, we can ensure Nigerians have access to fuel at fair prices, and that supply remains uninterrupted across the country.” IPMAN members operate close to 50,000 retail outlets nationwide, making them one of Nigeria’s largest fuel distribution networks. This agreement means these outlets will now rely less on imported fuel, potentially reducing costs associated with foreign exchange rates and shipping delays.
The timing of the deal aligns with President Bola Tinubu’s economic reform agenda, which seeks to address Nigeria’s dependence on imports and strengthen the country’s foreign exchange position. Backward integration – sourcing and refining petroleum products domestically – is expected to ease the pressure on Nigeria’s foreign currency reserves, as the country has been spending billions annually on imported refined fuel products. “By reducing our reliance on imports, we’re not only keeping fuel costs lower for everyday Nigerians, but also supporting the nation’s long-term economic stability,” Shettima-Garima explained.
READ MORE: Global Scam Losses In One Year Surpasses $1 Trillion, Hitting Hardest in Brazil and the U.S.
Alongside this agreement, Shettima-Garima highlighted IPMAN’s commitment to supporting Nigeria’s transition to alternative energy sources. He encouraged IPMAN members to begin installing Compressed Natural Gas (CNG) refill stations at their fuel outlets. The federal government has identified CNG as a cleaner, cost-effective alternative to PMS, and IPMAN’s collaboration in this transition could expand energy options for millions of Nigerians. “CNG can offer real economic relief,” Shettima-Garima noted, “and we at IPMAN are ready to contribute significantly to this goal, partnering closely with the Presidential CNG Initiative (PCNGI) to ensure the success of this project.”
The IPMAN leader also extended his gratitude to key stakeholders, including Aliko Dangote and top government officials who have actively supported Nigeria’s downstream sector. Acknowledging the roles played by President Bola Tinubu, the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, and others, Shettima-Garima emphasized the unity required to achieve such a transformational shift in Nigeria’s fuel market. “This collaboration with Dangote Refinery marks the start of a new era for Nigeria’s energy sector,” he stated. “It provides a solid foundation for sustainable fuel supply, economic stability, and a brighter future for Nigerians.”
The Dangote Refinery, the largest in Africa, has been positioned as a game-changer in addressing Nigeria’s long-standing dependency on imported fuel, which has impacted national currency reserves and local economies. This agreement with IPMAN further consolidates the refinery’s strategic importance to Nigeria’s economic goals and signals a substantial step forward in achieving energy independence.
