The Independent Petroleum Marketers Association of Nigeria (IPMAN) has disclosed plans to venture into refinery ownership, subject to regulatory approval, as part of efforts to deepen domestic refining capacity and reduce Nigeria’s reliance on imported petroleum products.
The association made this known while outlining measures to support ongoing reforms in the downstream petroleum sector. According to IPMAN, investing in refinery ownership would enable its members to play a more active role in local production, enhance energy security and contribute to the stability of petroleum supply across the country.
In the same vein, IPMAN directed its members nationwide to prioritise the purchase of Premium Motor Spirit (PMS) from the Dangote Petroleum Refinery. The association described the move as critical to strengthening local refining, stabilising fuel supply and encouraging sustainable growth in Nigeria’s petroleum industry.
IPMAN noted that increased patronage of locally refined products would help reduce foreign exchange pressure associated with fuel imports, lower distribution challenges and support the Federal Government’s drive for self-sufficiency in petroleum products.
The association expressed optimism that, with the right regulatory support, its plans would further boost competition, improve efficiency in the downstream sector and ultimately benefit consumers through more reliable fuel availability.
