The Independent Petroleum Marketers Association of Nigeria has disclosed plans to venture into refinery ownership, subject to regulatory approval, as part of efforts to deepen domestic refining and reduce Nigeria’s reliance on imported petroleum products.
The association also directed its members nationwide to prioritise the purchase of Premium Motor Spirit from the Dangote Petroleum Refinery, describing the move as critical to strengthening local refining, stabilising fuel supply and supporting ongoing reforms in the downstream petroleum sector.
The IPMAN National President, Abubakar Shettima, stated this during a press conference on Thursday in Abuja while reacting to recent developments in the oil and gas sector, which culminated in a change of leadership at the Nigerian Midstream and Downstream Petroleum Regulatory Authority and the Nigerian Upstream Petroleum Regulatory Commission.
Shettima also revealed a growing partnership between the association and the Dangote Petroleum Refinery to boost petrol supply nationwide.
While speaking on his expectations from the new regulatory chiefs, he said policy direction must be anchored on promoting domestic refining, discouraging fuel imports and creating a regulatory framework that enables independent marketers to invest in and operate refineries in Nigeria.
He urged the new leadership to prioritise Nigeria’s interest in all policy decisions, stressing that the country should no longer import petroleum products that can be refined locally.
The IPMAN President also called for policies that would enable independent marketers to own and operate refineries in Nigeria, rather than relying on fuel imports.
He said the move aligns with the association’s long-standing position that Nigeria must deepen domestic refining and completely phase out the importation of petroleum products.
He said, “Let him (new NMDPRA ACE) put Nigeria forward in all decisions that he wanted to make. Because what we are looking at is the way Nigerians cannot be importing products that we have in the country. Let him open a policy whereby the marketers, like we independent petroleum marketers, can have our refinery and refine in the country. Than going outside to be importing.
“As independent petroleum marketers, we consider the interests of the government. Since President Bola Ahmed Tinebu has already allowed the former authority chief to go and do other things and he brings new leadership. We support what the President has done. Our advice to the new leadership is for them to think for their country.”
According to him, reducing fuel importation would attract foreign investors into Nigeria’s downstream sector, deepen value creation and strengthen the economy.
“If importation reduces, those marketers operating around refineries will attract foreign investors to come into the country and invest,” he added.
Shettima also announced that Dangote Petroleum Refinery would begin the direct supply of PMS to registered IPMAN members from January 2026, including free delivery to filling stations nationwide, a development he said would further lower pump prices.
He therefore directed all IPMAN members across the country to prioritise patronage of the Dangote refinery, describing it as the most affordable source of PMS in the market.
“It is no longer news that IPMAN has the highest percentage of the supply chain of the PMS downstream sector, controlling over 80% of the PMS retail market. It therefore declares that there will be no gap or scarcity in PMS supply to Nigerians.
“We are also excited about the recent agreement by the Dangote Refinery to begin the supply of PMS products directly to registered IPMAN members, and its free delivery to our filling stations anywhere and everywhere in Nigeria, which will commence in January 2026. This will again certainly lead to a further decrease in the pump price of the products at our filling stations.
“Therefore, I am calling on all IPMAN members nationwide to prioritise patronising the Dangote Refinery in their purchase of PMS products, as they already offer the best affordable price for all marketers today,” he said.
The IPMAN president applauded President Bola Tinubu for readjusting the leadership of the Nigerian Midstream and Downstream Petroleum Regulatory Authority and the Nigerian Upstream Petroleum Regulatory Commission, describing the decision as critical to restoring confidence in the oil and gas sector.
He said the growing partnership between IPMAN and the Dangote refinery would not have been possible without what he described as the President’s pragmatic leadership and sound judgment.
“The focus of the Dangote & IPMAN partnership has always been geared towards making life better for Nigerians. And of course, this blooming partnership would never have been possible without the pragmatic leadership of President Bola Ahmed Tinubu, and his sound judgment in readjusting the leadership of the NMDPRA and the NUPRC,” Shettima said.
He warned that continued fuel importation remains harmful to Nigeria’s economy, stressing that issuing import licences alongside local refining distorts market dynamics, drains foreign exchange, destroys jobs and discourages investment.
“Our position has always been to deepen domestic refining. Continuous import is not an acceptable parallel business model. Continuous import is NOT an acceptable parallel business model because issuing import licenses recklessly distorts market dynamics, drains foreign exchange, enthrone poverty, destroys jobs, and scares potential investors away,” he said.
While congratulating the new heads of the petroleum regulatory agencies, Shettima urged the leadership of the NMDPRA to urgently address outstanding bridging claims owed to IPMAN members, estimated at over N190bn.
“IPMAN would like to remind them of the long outstanding bridging claims owed to our members, totalling over N190 billion. We specifically call on the NMPDRA’s new leadership to immediately make this debt a cause for serious concern as he assumes his new position,” he concluded.
Nigeria has historically relied on imported petroleum products due to the collapse of its state-owned refineries, a situation that has strained foreign exchange reserves and exposed the economy to global oil price volatility.
The commencement of operations at the 650,000 barrels-per-day Dangote Petroleum Refinery has reshaped the downstream sector, intensifying debates over fuel importation, pricing and regulatory oversight.
Recent tensions between the refinery and regulators over import licences and market dominance recently escalated, culminating in leadership changes at the NMDPRA and NUPRC.
