IPMAN Official: Importing Petrol Cheaper Than Buying from Dangote Refinery

An Independent Petroleum Marketers Association of Nigeria (IPMAN) official reveals that importing petrol remains more cost-effective than purchasing from the Dangote Refinery, sparking debate on local refining costs.

Yakubu Suleiman, the National Assistant Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), has disclosed that importing Premium Motor Spirit (PMS), commonly known as petrol, is currently more cost-effective than buying it from the Dangote Refinery.

Suleiman pointed out that, as of last week, the Dangote Refinery was selling PMS at a wholesale rate of N995 per litre.

He shared these comments in an interview with Arise TV on Friday, November 1st.

He mentioned, “Dangote’s price is significantly higher than elsewhere. As of last week, Dangote charges N995 per liter and you must arrange for your own transportation to load.”

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“What are the costs for transporting the cargo? What additional fees will you incur at your depot? It’s important to have empathy for Nigerians.”

The Independent Petroleum Marketers Association of Nigeria (IPMAN) is making every effort to help the country during this challenging time when many are suffering.

Let’s opt for products that are more affordable, so when we sell them to the public, they will appreciate it. Many people don’t fully grasp the current dynamics at play.

When we purchase at a higher price, we end up selling it for more than people anticipate, leading them to call us ‘IPMAN.’ We’re exhausted.

“If people understood the dynamics, they would commend IPMAN for being genuinely patriotic towards Nigerians.”