The Independent Petroleum Marketers Association of Nigeria (IPMAN) has directed its members to source Premium Motor Spirit (PMS) directly from the Dangote Petroleum Refinery following a 4.7% increase in depot prices, which rose from N907 to N950 per litre. The price hike is attributed to rising crude oil costs, which have climbed from $73 to $80 per barrel.

IPMAN’s Public Relations Officer, Chinedu Ukadike, stated that sourcing petrol from Dangote Refinery is more cost-effective than relying on private depot owners. The refinery offers PMS at N909 per litre, with a minimum purchase of two million litres. Additionally, members can also buy from MRS, which distributes Dangote’s products.

IPMAN’s National President, Alhaji Garima, confirmed that some members still purchase PMS from the NNPC at N899.50 per litre but emphasized that the Dangote-MRS arrangement offers significant cost advantages. He also encouraged members to pool funds to buy directly from Dangote Refinery, taking advantage of the new flexible pricing structure following the removal of fuel subsidies.