JUST IN: IPMAN, DANGOTE REACH AGREEMENT TO LIFT PMS, AGO, DPK DIRECTLY

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Dangote Refinery and the Independent Petroleum Marketers Association of Nigeria (IPMAN) have reached an agreement for direct product lifting.

This was declared in Abuja on Monday following a meeting of the association’s national working committee by IPMAN national president Abubakar Garima.

According to him, the collaboration will guarantee a consistent and reasonably priced supply of PMS products across the country.

“Girima said, “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,” the statement reads following a meeting with Aliko Dangote and his management team in Lagos.

Citing the advantages of backward integration and the favourable effects on Nigeria’s foreign exchange market, Garima asked IPMAN members to back Dangote Refinery.

Garima said he was certain that talks with Dangote would result in cheaper prices.

Regarding CNG (compressed natural gas), according to the president of IPMAN, the association is now negotiating with the presidential CNG initiative in order to ensure a smooth transition to CNG refill stations around the country.

It is anticipated that this collaboration will boost Nigeria’s petroleum sector’s productivity, affordability, and economic expansion.

The Dangote Refinery promised at the conference to start supplying goods to more than 30,000 IPMAN members and 150,000 retail locations across the country.

It is anticipated that this action will cut expenses, remove intermediaries, and guarantee a consistent supply.