Business
Dangote Refinery, marketers to meet over new fuel price

In a pivotal move for Nigeria’s oil sector, the Independent Petroleum Marketers Association of Nigeria (IPMAN) is gearing up for crucial talks with Dangote Petroleum Refinery this week. The discussions, set to take place between Tuesday and Wednesday, aim to finalize agreements on the pricing and direct lifting of petrol from the $20bn refinery, marking a new chapter for the country’s fuel supply chain.
This comes after the Federal Government recently granted marketers permission to bypass the Nigerian National Petroleum Company Limited (NNPC) and purchase petrol directly from local refineries. IPMAN and the Petroleum Retail Outlet Owners Association of Nigeria (PETROAN) are both optimistic that increased competition in the downstream oil sector could lead to a drop in petrol prices, potentially easing the burden on consumers.
IPMAN’s National Publicity Secretary, Chinedu Ukadike, expressed confidence in the forthcoming partnership with Dangote Refinery, noting that the association has bolstered its infrastructure with newly acquired tank farms to streamline fuel distribution. “We are ready to take whatever Dangote offers us,” Ukadike said, emphasizing the association’s preparedness for healthy competition that could drive prices down.
Meanwhile, PETROAN President Billy Gillis-Harry shared similar optimism, revealing that the refinery has requested a fresh submission for petrol lifting. With the refinery poised to become a significant player in the fuel supply chain, industry stakeholders are hopeful that Nigeria’s fuel market will soon stabilize, bringing much-needed relief to millions of Nigerians.