IPMAN Vows To Buy Fuel From Dangote At Any Price

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has declared its readiness to buy petrol from Dangote Refinery, regardless of the price set by the organization.

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EKO HOT BLOG reports that IPMAN National President, Abubakar Maigandi, made this statement on Saturday, expressing the association’s willingness to engage with Dangote once the refinery begins selling fuel to the public.

Maigandi emphasized that IPMAN is eager to do business with Dangote, highlighting that price will not be a deterrent. “Whatever the case, if Dangote starts selling his product, we are going to patronize him.

If he wants to do business with us, we are ready to buy at any price,” he told Punch.

He further noted that with the Nigerian National Petroleum Company Limited (NNPC) opting not to fix petrol prices, marketers are prepared to buy and resell fuel at a competitive price.

Meanwhile, NNPC has responded to allegations by the Muslim Rights Concern (MURIC) that its actions were stifling Dangote Refinery’s operations.

In a statement issued by Chief Corporate Communications Officer, Olufemi Soneye, NNPC refuted the claims, stating that the company does not control petroleum prices and that Dangote Refinery is free to offer competitive rates.

NNPC clarified that the Nigerian market is open to any local refinery, and global market forces will dictate fuel prices. They also emphasized that they are not the exclusive offtaker for Dangote’s products and that domestic refineries are free to sell directly to any marketer on a “willing buyer, willing seller” basis.