Dangote and IPMAN Sign 60 Million Litres Weekly Fuel Deal

Dangote Refinery and the Independent Petroleum Marketers Association of Nigeria (IPMAN) have finalized a deal to supply 60 million litres of Premium Motor Spirit (PMS) weekly.

According to IPMAN spokesperson Chinedu Ukadike, the agreement marks a significant step in securing fuel supplies for IPMAN members nationwide.

Additionally, Ukadike confirmed that fuel prices have seen a slight reduction at IPMAN-affiliated filling stations across the country.

On November 11, 2024, the Independent Petroleum Marketers Association of Nigeria (IPMAN) announced a direct supply agreement with Dangote Refinery for the distribution of petrol.

This deal raised expectations of a reduction in fuel prices. In a recent update, IPMAN spokesperson Chinedu Ukadike confirmed that Dangote Refinery would supply 60 million litres of petrol weekly to its members.

As a result of the agreement, petrol prices have dropped by between N10 and N50 at various filling stations across the country.

“While the discussion is still ongoing, Dangote has offered to give us over 60 million litres depending on our patronage.

“The 60 million litres is to be given weekly. And we can take and distribute it across the country once we start lifting the product from the refinery.

“It is obvious now that the prices of the products have crashed. You would have noticed the drop in prices by N10, N15, something N50 or so, and this is due to competition and deregulation in the oil and gas sector,” he stated.