Business
IPMAN queries Dangote’s 500 million litre fuel stock claim

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has raised doubts over Dangote Group’s claim of holding a 500-million-litre reserve of petrol for Nigerian consumers. Abubakar Maigandi, IPMAN’s National President, publicly questioned Aliko Dangote’s assertion that the refinery is fully stocked and ready to distribute fuel, revealing that IPMAN members have been unable to load petrol at the Dangote Refinery in Lagos despite being dispatched by the Nigerian National Petroleum Company Limited (NNPCL).
Appearing on Channels TV’s Sunrise Daily, Maigandi disclosed that, despite IPMAN members paying N40 billion to NNPCL for fuel supply, they have been left waiting at the refinery for four days without access to petrol. He expressed shock over Dangote’s statements, emphasizing that the situation on the ground contradicts the claim of abundant fuel reserves. “Our trucks have been at the refinery, but there’s no fuel for loading, despite the NNPCL’s arrangement,” he remarked.
On Tuesday, Dangote encouraged marketers, including NNPCL, to purchase petrol directly from his refinery to ease reliance on imports, highlighting that the refinery could produce 30 million litres per day at full capacity. Following a meeting with President Bola Tinubu, he asserted that the refinery’s current stock could cover national needs for 12 days without imports, and assured journalists that they were “more than ready” to support the nation’s fuel demands.
In response, Maigandi suggested that the Dangote Refinery should consider registering independent marketers directly, bypassing NNPCL’s channels to streamline fuel distribution. He noted that IPMAN is eager to buy fuel directly if the refinery is open to the arrangement, adding, “We have the funds, we’re prepared to load, but the supply must be accessible to us.”