The Dangote Petroleum Refinery has pledged to supply the Independent Petroleum Marketers Association of Nigeria with 60 million liters of Premium Motor Spirit, also known as petrol, per week, for a total of 240 million liters each month.
According to the group, the refinery has promised to provide IPMAN members with 60 million liters of PMS every week, depending on patronage.
This is because it was reported that the $20 billion Lekki-based refinery plans to raise billions of dollars to import crude oil and enhance production.
Also on Sunday, oil traders reported that petrol prices were falling due to competition caused by the sector’s deregulation, particularly because the Nigerian National Petroleum Company Limited and other marketers imported almost two billion liters of PMS in 42 days.
The IPMAN National Publicity Secretary Chinedu Ukadike stated in an interview that members of the association can lift any quantity of PMS assigned to them by the Dangote refinery, emphasizing that independent marketers distribute the majority of the fuel imported into the country.
Recall that the group just declared that it had secured an agreement with Dangote to remove PMS directly from the refinery, without the middleman.
Giving an update, Ukadike said, “We are going to off-take the product in millions of liters. Before now, most of the imported products in Nigeria were distributed through IPMAN. So we can off-take the products, no matter the millions of liters that are produced.”
