The Independent Petroleum Marketers Association of Nigeria (IPMAN) has assured Nigerians that there will be no cause for alarm once it begins lifting premium motor spirit (PMS) directly from the Dangote Refinery. This development follows the Nigerian National Petroleum Company Limited (NNPCL) ending its exclusive purchase agreement with Dangote, allowing marketers to buy fuel directly from the refinery.

IPMAN National President, Maigandi, expressed optimism, emphasizing that the sale of crude oil in naira to Dangote Refinery would benefit Nigerians by stabilizing fuel prices. He reassured the public that once IPMAN starts purchasing directly, fuel pricing would be more favorable.

Meanwhile, the Petroleum Retail Outlets Owners Association of Nigeria (PETROAN) revealed their plans to import 100,000 metric tons of fuel monthly as an alternative to relying solely on Dangote Refinery. PETROAN President, Dr. Billing Harry, raised concerns over the refinery’s focus on the export market and the lack of direct communication with marketers. PETROAN is exploring options to avoid further financial strain on its members, as only 500 out of over 6,000 retail outlets remain operational.

Dr. Muda Yusuf, CEO of the Center for the Promotion of Private Enterprise (CPPE), called for more clarity from NNPCL regarding subsidy removal and pricing, warning that deregulation may lead to increased fuel prices amid existing economic hardships.