IPMAN seeks to buy petrol directly from Dangote amid NNPC’s N40bn debt

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged the Dangote Refinery to consider direct sales of petrol, citing significant delays and outstanding payments from the Nigerian National Petroleum Company (NNPC) Limited.

Abubakar Maigandi, President of IPMAN, made this known in TV interview, alluding to marketers eagerness to buy fuel directly from Dangote to address ongoing supply issues, which have caused delays in loading at NNPC depots.

Maigandi said: “We have over N40 billion under the NNPCL’s custody. We cannot be able to source this product. And just recently, there are some of my marketers that NNPC sent to go and load in Dangote refinery.

“I’m telling you, those marketers, they stay with their trucks over four days.

“My marketers are always looking the way they can get this product direct. So I’m very surprised when I heard the President of Dangote Refineryi say he has over 500 million liters of Premium Motor Spirit (PMS). If he can be able to sell this product to us direct, definitely we are ready to buy the product because we have to pay before we pick.”

Yesterday, Aliko Dangote, President of Dangote Group, said his refinery has the capacity to provide enough petrol to satisfy local consumption, noting that about 500 million liters have not been taken up by retailers.

Dangote, who stated this while fielding questions from State House journalists after the meeting of the Implementation Committee of Sale of Crude and Refined Petroleum products with President Bola Tinubu, wondered why there are shortages of fuel at most filing stations.

“We have enough supply of crude; we can actually produce much more than 30 million liters every day. At full capacity, we can even supply whatever is being consumed.

“As we speak today, we have 500 million liters, you know, in our tanks. So, with 500 million liters in our tanks, even if there’s no production from anywhere or no imports, this will take the country more than 12 days, you know, with no imports, with no production, nothing.

“So we are very ready. We are more than ready. And you know, I’m also putting my own name on line by giving Mr President my word that, yes, we will be able to supply the market a minimum of 30 million per day, and we’ll be ramping up production. So, we’re ready. We’re more than ready.”

Meanwhile, Maigandi has revealed that there are many challenges deteriring the success of these moves by the independent marketers.

“… That is the reason why we have been contacting Dangote Refinery’s management to allow us to start taking this product direct so that we know immediately when we pay the products, we can be able to pick this product.”