DANGOTE REFINERY TO SUPPLY 60 MILLION LITRES OF PETROL WEEKLY TO IPMAN TO BOOST CRUDE IMPORTS. (PHOTO).

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 Dangote Refinery To Supply 60 Million Litres Of Petrol Weekly To IPMAN To Boost Crude Imports The Dangote Petroleum Refinery has reached an agreement to supply 60 million litres of Premium Motor Spirit (PMS) to the Independent Petroleum Marketers Association of Nigeria (IPMAN) on a weekly basis, which translates to 240 million litres per month. This comes as the $20bn Lekki-based refinery seeks to raise billions of dollars to import crude oil and increase production to reach its full capacity of 650,000 barrels per day. IPMAN National Publicity Secretary, Chinedu Ukadike, confirmed that the association is finalizing discussions with Dangote and expects to start lifting PMS from the refinery before the end of November. The agreement has already led to a drop in petrol prices by N10 to N15 due to increased competition in the downstream sector following deregulation. In the past 42 days, the Nigerian National Petroleum Company Limited (NNPC) and other marketers have imported over two bil
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OGUN GOVT REJECTS IPMAN'S CLAIMS OF HARASSMENT BY FUEL FRAUD TASK FORCE. (PHOTO).

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 Ogun Government Rejects IPMAN's Claims of Harassment by Fuel Fraud Task Force


The Ogun State Government has denied allegations of harassment and intimidation made by the Independent Petroleum Marketers Association of Nigeria (IPMAN) against the state’s newly established petroleum industry task force. The task force was set up to address issues like fuel meter tampering and other malpractices within the sector. 


State Commissioner for Transportation, Olugbenga Dairo, responded to IPMAN’s accusations, clarifying that the task force's aim is to regulate and promote fair practices, particularly in light of growing public concerns over fuel pricing and transportation costs. 


Dairo revealed that the task force had uncovered significant irregularities at several filling stations, such as discrepancies in fuel dispenser readings leading to financial losses for consumers. Examples included shortages of up to 1 litre per 10 litres of fuel at various stations.


He urged IPMAN members to collaborate with the government to ensure fair pricing and protect consumers while maintaining operational integrity. Dairo emphasized that the task force's actions were in line with the state's duty to regulate the market and protect public interests, despite IPMAN's claim that it violated provisions of the Petroleum Industry Act (PIA).


The commissioner also warned against drastic measures like withdrawing fuel supplies, which he said would harm both businesses and residents who rely on fuel for daily activities. He reiterated the state's commitment to combating fuel pump manipulation and unjustified price hikes, encouraging dialogue between the government and IPMAN to find a balanced solution.

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