The Independent Petroleum Marketers Association of Nigeria (IPMAN) has revealed that its members are set to meet with Dangote Refinery this week to discuss the direct lifting of Premium Motor Spirit (PMS), commonly known as petrol, and to explore potential price reductions.

This development was disclosed by IPMAN’s spokesperson, Chief Chinedu Ukadike, in a recent statement. Ukadike expressed optimism that independent marketers would soon begin lifting petrol directly from Dangote Refinery, a move expected to ease fuel distribution challenges in Nigeria’s oil and gas sector.

“There’s a meeting scheduled for this week between Dangote and IPMAN. We are happy that Dangote has set a new course by involving other stakeholders in distributing its products,” Ukadike said. “It is currently distributing to major marketers, and we are hopeful that independent marketers will soon be part of this distribution chain.”

The anticipated collaboration with Dangote Refinery comes at a time when fuel prices across Nigeria remain volatile. Reports indicate that Nigerian National Petroleum Company Limited (NNPCL) retail outlets, alongside other independent filling stations, have been selling petrol at prices ranging between N950 and N1,100 per litre, depending on the location. This price hike follows the commencement of petrol distribution from Dangote Refinery.

In addition to the upcoming meeting, the Crude Oil Refiners Association of Nigeria (CORAN) has called on the Nigerian government to stabilize the foreign exchange rate at N1,000 per dollar. According to CORAN, this measure could help bring down the price of Dangote’s petrol to below N600 per litre, providing much-needed relief to consumers facing high fuel costs.

The outcome of the meeting between IPMAN and Dangote Refinery is eagerly awaited, as industry stakeholders hope it will lead to improved petrol distribution and more competitive fuel prices across the country.