IPMAN Backs Domestic Refining to Strengthen Nigeria’s Economy

The Independent Petroleum Marketers Association of Nigeria (IPMAN Backs Domestic Refining) has officially announced a significant policy shift regarding the nation’s fuel supply chain. In a statement released on Thursday, the association declared its full support for local crude refining, marking a sharp departure from its previous stance favoring petroleum imports. Consequently, this move aims to stabilize market dynamics and protect Nigeria’s struggling foreign exchange reserves.

Why IPMAN Shifted from Fuel Imports to Domestic Refining

Abubakar Garima, the National President of IPMAN, explained that the continuous importation of petrol is no longer a viable business model. Although the association previously called for more import licenses in 2023, it now recognizes that domestic production is the only way to eradicate fuel scarcity permanently.

Furthermore, Garima emphasized that domestic refining will create jobs and attract potential investors who were previously scared away by market instability. By prioritizing local production, IPMAN intends to deepen the downstream sector and ensure that petroleum products remain affordable for all Nigerians.

The Impact of “Reckless” Import Licenses on Foreign Exchange

One of the primary drivers behind this shift is the “reckless” issuance of import licenses. Garima noted that these licenses often distort market dynamics and drain vital foreign exchange (FX) from the economy. In addition to draining FX, the reliance on imports tends to enthrone poverty by shipping potential jobs overseas.

Because IPMAN controls over 80% of the PMS retail market, its decision to stop backing imports carries immense weight. The association now believes that local refining is the most effective tool to eradicate poverty and strengthen the Naira.

Partnering with Dangote Refinery: Direct Supply and Lower Prices

The transition toward domestic products is already in motion through a new partnership with the Dangote Refinery. Recently, an agreement was reached that allows the refinery to supply petroleum products directly to registered IPMAN members. This direct supply chain bypasses unnecessary middlemen, which should lead to a consistent reduction in pump prices nationwide.

Free Fuel Delivery Set for January 2026

Marketers are particularly excited about the upcoming free delivery scheme. Starting in January 2026, the Dangote Refinery will begin delivering PMS directly to IPMAN filling stations across Nigeria at no extra cost.

Specifically, this initiative aims to:

• Lower Pump Prices: Reduced logistics costs will translate into cheaper fuel for consumers.

• Eliminate Scarcity: Direct supply ensures there will be no gaps in the PMS supply chain.

• Encourage Patronage: Garima has urged all members to prioritize the Dangote Refinery due to its affordable pricing.

Conclusion: A New Era for Nigerian Energy

In conclusion, the fact that IPMAN Backs Domestic Refining signals a new era of energy independence for Nigeria. This blooming partnership between local marketers and the Dangote Refinery was made possible through the pragmatic leadership of President Bola Ahmed Tinubu. As the country moves toward a January 2026 launch for direct deliveries, Nigerians can look forward to a more stable and affordable petroleum market.