The Independent Petroleum Marketers Association of Nigeria (IPMAN) has raised concerns that the high logistical costs associated with purchasing petrol from the Dangote Refinery are prompting independent marketers to seek more affordable options from other depots across the country.
Yakubu Suleiman, the National Assistant Secretary of IPMAN, made these statements during an interview on Arise Television’s Morning Show on Friday. He accused Aliko Dangote, the CEO of Dangote Refinery, of neglecting key stakeholders in the refinery’s fuel supply strategy, asserting that the lack of engagement has hindered independent marketers’ ability to source petrol from the facility.
Suleiman stated, “As IPMAN, we believe that Dangote should have invited us for discussions—not just IPMAN, but all relevant stakeholders, including MOMAN and DAPMAN. Unfortunately, there has been no engagement to date.”
He elaborated on IPMAN’s attempts to connect with Dangote, noting, “We have approached Dangote three to four times seeking a meeting to explore potential collaboration, but each time, we were told he would get back to us.”
While Suleiman expressed support for the Dangote Refinery and its strategic importance to Nigeria, he emphasized the need for direct engagement to facilitate competitive pricing for fuel. “Like every Nigerian, IPMAN is pleased with Dangote’s achievements and the refinery’s significance to the country. However, the conditions must be favorable for us to proceed,” he explained. “This includes the pricing and the ease of loading.”
Suleiman revealed that the price per litre of petrol at the Dangote Refinery is approximately N995, but additional charges significantly inflate the cost compared to imported fuel, affecting both independent marketers and consumers. “If Dangote has a product priced at N1,000 and another source offers it for N900, we cannot instruct our members to exclusively buy from Dangote out of loyalty. We must prioritize where we can make a profit,” he stated.
He added, “Last week, Dangote’s price was higher than other suppliers. Although international crude prices are declining, Dangote’s rate remains at N995 per litre. When you factor in the costs of arranging your own cargo and loading, it becomes challenging to sell at a competitive price to consumers.”
Suleiman emphasized IPMAN’s commitment to supporting Nigerians, particularly during these challenging times, and reiterated the importance of sourcing cheaper products to offer more affordable prices at the pump.
He expressed frustration with the current engagement model of Dangote Refinery, which he claims primarily involves government officials and high-level stakeholders while excluding independent marketers. “We urge Dangote to convene a stakeholders’ meeting. He needs to engage with IPMAN, MOMAN, and DAPMAN so that we can collectively serve the needs of Nigerians,” Suleiman said.
He concluded with a challenge, stating, “If Dangote sold directly to IPMAN at a fair price, fuel costs in Nigeria would have already decreased. We could purchase fuel at N995 or N900 and transport it directly to our filling stations. If this were to happen, you would see retail prices drop within days.”