Saturday, May 23, 2026
  • Login
No Result
View All Result
The Business Times
  • News
  • BT Exclusive
  • Economy
  • Business
  • Financial Markets
  • Politics
  • Energy
  • Insights
  • Sports
  • News
  • BT Exclusive
  • Economy
  • Business
  • Financial Markets
  • Politics
  • Energy
  • Insights
  • Sports
No Result
View All Result
The Business Times
No Result
View All Result
Home Economy

IPMAN Rejects Imports, Backs Dangote Refinery

bySodiq Adeoyo
January 10, 2026
in Economy, Energy, News
0
IPMAN Rejects Imports, Backs Dangote Refinery
7
VIEWS
Share on FacebookShare on Twitter

Nigeria’s downstream petroleum sector has reached a critical turning point as the Independent Petroleum Marketers Association of Nigeria (IPMAN) officially rejected the continued importation of refined petroleum products. This bold stance coincides with a firm rebuttal from the Dangote Petroleum Refinery regarding widespread rumors of supply disruptions and an alleged maintenance shutdown. The alignment between the country’s largest marketing body and the $20 billion refinery signals a potential end to Nigeria’s decades-long reliance on foreign fuel.

Commitment to Local Refining
IPMAN National President, Abubakar Maigandi Shettima, has been vocal about the association’s shift in strategy. During recent industry briefings, Shettima directed over 150,000 members nationwide to prioritize the purchase of Premium Motor Spirit (PMS) directly from the Dangote Refinery. This decision follows a landmark agreement that allows independent marketers to bypass the Nigerian National Petroleum Company Limited (NNPCL) as an intermediary, facilitating faster and more affordable distribution.

Shettima emphasized that “continuous import is not an acceptable parallel business model.” He argued that reckless issuance of import licenses distorts market dynamics, drains the nation’s foreign exchange reserves, and exports jobs that should benefit Nigerians. By committing to local products, IPMAN aims to stabilize pump prices and ensure a more predictable supply chain for the 80% of the retail market it controls.

Dangote Refutes Disruption Claims
While marketers align with local production, the Dangote Refinery has had to fight a “disinformation campaign” aimed at undermining its operations. Group Chief Branding and Communications Officer, Anthony Chiejina, recently addressed reports suggesting the refinery was experiencing technical hitches or planned to shut down for maintenance in early 2026.

The refinery management clarified that production remains uninterrupted, with the facility capable of pumping up to 50 million liters of petrol daily—far exceeding Nigeria’s daily consumption. Chiejina labeled the disruption claims as the handiwork of “international fuel importers” who benefit from the status quo. He maintained that the refinery’s price of N699 per liter (ex-gantry) remains the most competitive in the market, further removing the economic justification for imports.

Economic Implications and Logistics
The shift toward 100% local sourcing is expected to save Nigeria approximately $10 billion annually in foreign exchange. To support this transition, the Dangote Refinery has implemented an aggressive logistics strategy, including the deployment of a massive fleet of trucks and sea-based evacuation methods. The refinery has also urged any marketers still facing “loading difficulties” to register for direct payment accounts, which would eliminate the four-day delays previously reported when transactions were tied to NNPCL credit.

A New Era for Energy Security
The synergy between Aliko Dangote’s refinery and Abubakar Maigandi Shettima’s IPMAN represents a unified front against the “import cabal.” As the refinery ramps up to its full 650,000 barrels-per-day capacity, the focus is now on the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to ensure that the regulatory framework supports this domestic transition.

For the average Nigerian, this battle over supply and imports is more than just corporate maneuvering; it is a quest for affordable fuel. With IPMAN’s 30,000 stations now prioritizing local petrol, the hope is that the era of “fuel queues” will finally be replaced by a stable, self-sufficient energy market.

Tags: Abubakar Maigandi ShettimaDangote refineryFuel ImportationIPMANNigeria EconomyPetroleum Industry Act (PIA)
Sodiq Adeoyo

Sodiq Adeoyo

Next Post
FG Sets Aside ₦1.7tn in 2026 Budget to Settle Unpaid Contractor Bills

FG Sets Aside ₦1.7tn in 2026 Budget to Settle Unpaid Contractor Bills

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Midnight Fire Ravages Kano Market, Destroys Millions in Goods

Midnight Fire Ravages Kano Market, Destroys Millions in Goods

4 weeks ago

Lagos rolls out $500m results driven governance reform

1 month ago

Popular News

  • Kano Ram Prices Hit ₦700,000 as Eid Demand Falls Ahead of Eid-el-Kabir

    Kano Ram Prices Hit ₦700,000 as Eid Demand Falls Ahead of Eid-el-Kabir

    0 shares
    Share 0 Tweet 0
  • Nigeria Remains World’s Third-Largest IDA Borrower as Exposure Falls to $14.5bn

    0 shares
    Share 0 Tweet 0
  • BMONI Partners With Mastercard to Accelerate Instant Card Issuance in Nigeria’s $26 Billion E‑commerce Market

    0 shares
    Share 0 Tweet 0
  • Millions of Nigerians Still Without Prepaid Meters – NERC

    0 shares
    Share 0 Tweet 0
  • National Single Window Records Over 39,000 Trade Applications in Eight Weeks

    0 shares
    Share 0 Tweet 0

Connect with us

Facebook Twitter Instagram TikTok

Newsletter

Pages

  • About Page
  • Contact
  • Privacy Policy
  • Terms & Conditions

Navigation

  • News
  • BT Exclusive
  • Economy
  • Business
  • Financial Markets
  • Politics
  • Energy
  • Insights
  • Sports

© 2025 The Business Times NG .

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
  • BT Exclusive
  • Economy
  • Business
  • Financial Markets
  • Politics
  • Energy
  • Insights
  • Sports

© 2025 The Business Times NG .