IPMAN Claims Inability to Load Petrol from Dangote Refinery Despite ₦40bn Payment to NNPC

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that its members are unable to load petrol from the Dangote Refinery in Lagos, despite having paid ₦40 billion to the Nigerian National Petroleum Company Limited (NNPCL).

IPMAN President Abubakar Garima made this statement during an appearance on Channels Television’s Sunrise Daily programme on Wednesday. He expressed surprise at claims made by Aliko Dangote, the owner of the $20 billion refinery, who stated that marketers are boycotting his facility in favour of imported petrol.

Garima clarified that IPMAN members are not importing petrol, contrary to Dangote’s assertions. He suggested that the private refinery should directly register independent petrol marketers to streamline the loading process, rather than going through the NNPCL.

“If Dangote can sell the product to us directly, we would be willing to buy, as we must pay upfront before loading. We currently have ₦40 billion held by the NNPCL, yet we still can’t obtain the product,” he explained.

He recounted a recent incident where some of his marketers were sent to load from Dangote’s refinery but were left waiting with their trucks for four days without being able to load.

On Tuesday, Dangote held a meeting with President Bola Tinubu in Abuja and informed reporters that he has over 500 million litres of petrol stored at his massive refinery, yet marketers are not utilising his facility.

However, Garima pointed out that with over 20,000 members in Nigeria, IPMAN’s ₦40 billion advance payment to the NNPCL still hasn’t enabled them to source petrol from the private refinery.

Garima emphasised that if Dangote allowed independent marketers to directly lift the product, it could lead to a reduction in petrol prices at the pump. He also encouraged Dangote to evaluate the pricing of his product, especially if he believes that marketers are opting for imports.

“Since he claims that marketers are not purchasing his petrol, he should carefully assess his pricing. Is it higher than what they can find elsewhere, or is it comparable? Additionally, how long will it take for his product to reach their depots? That too plays a significant role,” Garima remarked.

He further noted that there is nothing wrong with marketers outside of IPMAN choosing to sell imported petrol, but he urged Dangote to investigate the pricing of these imported products.

As Nigerians continue to face soaring food prices and energy costs, which have quadrupled in the past year under the Tinubu administration, the situation remains dire. The price of petrol has surged from less than ₦200 to over ₦1,000 per litre.

Many attribute the soaring costs to the recent removal of fuel subsidies and the unification of foreign exchange rates, which have significantly impacted the middle class, prompting many to abandon their cars for public transport.