4 weeks ago
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The Independent Petroleum Marketers Association of Nigeria (IPMAN) has responded to claims made by billionaire, Aliko Dangote regarding a boycott of his refinery by marketers, urging him to reconsider his pricing strategy.
According to IPMAN President Abubakar Garima, despite having paid ₦40 billion to the Nigerian National Petroleum Company Limited (NNPCL), members of the association are facing significant difficulties in loading petrol from the Dangote Refinery in Lagos.
In an appearance on Channels Television’s Sunrise Daily programme on Wednesday, IPMAN President Abubakar Garima expressed astonishment at statements made by Aliko Dangote, the owner of the $20 billion refinery, suggesting that marketers were choosing to buy imported petrol instead.
Garima clarified that IPMAN members are not importing petrol, countering Dangote’s claims.
He suggested that the refinery should facilitate direct registration for independent petrol marketers to streamline the loading process.
“If he (Dangote) can be able to sell the product to us directly, we can buy the product, because we have to pay before we pick. Presently, we have ₦40bn under the NNPCL custody but we cannot source the product.
“Just of recent, there are some of my marketers that NNPCL sent to load in Dangote refinery and those marketers stayed with their trucks for four days, and they cannot load,” Garima stated.
During a recent meeting with President Bola Tinubu in Abuja, Dangote mentioned that he has over 500 million litres stored at his refinery but lamented that marketers were not utilizing his facility.
Garima emphasized that with over 20,000 members, IPMAN has already made substantial payments to NNPCL, yet still cannot source the premium product from the private refinery.
He also pointed out that if independent marketers were allowed to load directly from Dangote’s facility, it could lead to a decrease in petrol prices at the pump.
Garima urged Dangote to reassess his pricing if he believes marketers are boycotting his products.
“Since he (Dangote) says marketers are not buying his product, he should check his price properly. Is it higher than what they are obtaining outside or is it the same rate? Then if marketers buy this product through him, how long will it take for it to reach their depots? That one too is a factor,” Garima stated.
He noted that there is no issue with marketers outside of IPMAN opting for imported products but suggested that Dangote should examine the competitive prices of those imports.
As Nigerians face significant food inflation and soaring energy costs—where petrol prices have risen from below ₦200 to over ₦1,000 per litre in the past year under the Tinubu administration—many attribute the rising costs to the recent removal of petrol subsidies and the unification of foreign exchange rates.
This has compelled many in the middle class to abandon their vehicles in favour of public transport.
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