The Independent Petroleum Marketers Association of Nigeria (IPMAN) recently signed an agreement with Dangote for the supply of 240 million litres of petrol per month.
IPMAN National Publicity Secretary Chinedu Ukadike reiterated that the agreements eliminate middlemen and enable traders to source crude oil directly from refineries.
The swaps currently under negotiation will be implemented once both parties reach an agreement. However, the state media officer believes that this will be completed by the end of this month.
The $20 billion Lekki refinery is understood to be planning to raise billions of dollars to import fuel and increase production.
Also, oil dealers said petrol prices had fallen due to competition from the sector management, particularly the Nigerian National Petroleum Corporation Limited, while other traders exported over 2 billion litres of PMS in 42 days.
The National Publicity Secretary of IPMAN, Chinedu Ukadike, said that members of the association can withdraw any amount of PMS distributed to them by the Dangote Refinery, adding that the majority of petroleum import suppliers in the country are independent traders.
Recall that the organization had recently announced that it had signed an agreement with Dangote to develop PMS directly from the machine without the need for intermediaries.
Ukadike updated, “We will get millions of litres of product.” In the past, most of Nigeria’s products were exported through IPMAN. So, no matter how many millions of litres are produced, we can get the product out.
When asked if IPMAN would withdraw the deal from Dangote when independent traders started shipping crude oil from the Dangote facility, the National Publicity Minister said: “We can release 10 million litres and above, Dangote Gert has provided us with more than 60 million litres, depending on the intensity of our support
