Abuja: The National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Alhaji Abubakar Shettima, has urged independent petroleum marketers to rely on local refineries for product sourcing. Shettima made the call in a statement issued, emphasizing that greater reliance on domestic refineries would optimize supply and guarantee long-term price stability for consumers.
According to News Agency of Nigeria, Shettima stated that embracing the country’s domestic refining capacity was a patriotic obligation that would eliminate costly freight and port charges, stimulate local employment, and provide the quickest path to achieving national energy independence. He encouraged members to capitalize on the opportunity to evolve from mere off-takers of petroleum products into equity owners of primary production infrastructure.
Shettima highlighted that such investment would strengthen the collective capacity of independent marketers to guarantee affordable and unhindered fuel distribution ac
ross all 36 states, ensuring stability in pump prices. He also praised the management and board of the Dangote Petroleum Refinery and Petrochemicals for the planned commencement of its Initial Public Offering (IPO) and public share sales, describing it as a monumental paradigm shift from a privately held visionary project into a democratized national asset.
‘As an association that controls over 80 percent of Nigeria’s downstream petroleum retail infrastructure, operating more than 150,000 retail outlets across the nation, we recognize the strategic importance of this development. The Dangote Refinery’s robust operational capacity not only secures our domestic energy needs but also conserves vital foreign exchange. IPMAN believes that investment in the Dangote Refinery is a direct stake in the energy security and economic sovereignty of Nigeria,’ Shettima said.
He appealed to the management of the Dangote Petroleum Refinery not to discontinue its direct allocation of Premium Motor Spirit (PMS) to independent
marketers. Shettima urged the refinery to expand its direct allocation framework to cover every registered independent marketer nationwide, rather than limiting access or cutting off selected distribution channels.
Furthermore, he called on the Federal Government to implement stringent policies to discourage the continuous importation of PMS, warning that continued reliance on imported fuel would deplete the country’s foreign reserves and undermine domestic industrial growth.