NNPC, Dangote Deal Halts Direct Lifting of Petrol Despite FG’s Directive, IPMAN Reveals After Meeting With Dangote

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has revealed that despite the directive of the Federal Government that they can purchase petrol directly from Dangote Refinery, an existing agreement binding the Nigerian National Petroleum Company (NNPC) and the refinery, has halted lifting of the product.

This was made known on Wednesday, in a notice to IPMAN members in the Western Zone, issued by the Zonal Chairman, South-West, Dele Tajudeen, after a meeting with top officials of Dangote Refinery on Tuesday.

Investors King reported that on October 11, the Federal Government announced that all petroleum marketers can now negotiate and buy products directly from the Dangote Refinery, Lagos.

A statement by the Ministry of Finance indicated that the decision to allow oil marketers to deal directly with the refinery firm was reached at a meeting of the technical committee headed by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.

The leeway given by the Federal Government has ended the arrangement in which the Nigerian National Petroleum Company Limited (NNPCL) was acting as the sole off-taker of the Dangote Refinery products.

However, after the meeting between the two bodies, IPMAN revealed that the NNPC is still the sole off-taker of petrol from the Dangote Refinery.

According to the marketers, there is an existing agreement between NNPC and Dangote Refinery, and until the expiration of the said agreement, NNPC will remain the sole off-taker of the product from the refinery.

Sadly, IPMAN revealed that the date of the termination of that agreement is kept a secret by the NNPC and the refinery.

IPMAN said, “The IPMAN National Vice President, Zonal Chairman of Western Zone, IPMAN members, and PTD Zonal Chairman met with the Vice President of Dangote Group and many other notable staff members of the Dangote refinery yesterday, October 15, 2024.

“We had a very useful and fruitful discussion on the direct purchase of products from the Dangote refinery.  The Vice President of Dangote confirmed that the Minister of Finance/ Coordinating Minister of the Economy, and the Minister of Petroleum Resources have directed them to commence sales of products to marketers who have duly registered with the refinery, but they are still having a pending agreement with NNPC Ltd which still subsist.

“Until and when the agreement is terminated by either party, the direct sales will still be on hold.”

Meanwhile, IPMAN called on oil marketers who are yet to officially register with the association to do so as fast as possible as only registered members will benefit from the direct lifting of the product.

The statement added, “In view of this, marketers who are yet to officially register as IPMAN members should do so without wasting time as such marketers will not benefit from this opportunity when we eventually commence lifting from the Dangote refinery.”

Before now, IPMAN had accused Dangote Refinery of snubbing them on their demand to directly lift its petrol.

They hinted that the development is a setback on their efforts at making fuel sell cheaper across filling stations in the country.

The President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi and the President of the Petroleum Products Retail Outlets Owners Association, PETROAN, Billy Gillis-Harry assured that if they are allowed to directly lift petrol from Dangote Refinery, it would make the product sell lesser.