Nigeria’s IPMAN Plans Refinery Ownership, Eyes Local Fuel Production

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced plans to venture into refinery ownership, pending regulatory approval, as part of efforts to boost domestic refining and reduce Nigeria’s reliance on imported petroleum products. The association has also directed its members to prioritize buying Premium Motor Spirit (PMS) from the Dangote Petroleum Refinery, citing the move as crucial to strengthening local refining, stabilizing fuel supply, and supporting ongoing reforms in the downstream petroleum sector.

Speaking at a press conference in Abuja, IPMAN National President Abubakar Shettima revealed a growing partnership between the association and the Dangote Petroleum Refinery to boost petrol supply nationwide. He emphasized the need for policy direction that promotes domestic refining, discourages fuel imports, and creates a regulatory framework enabling independent marketers to invest in and operate refineries in Nigeria.

Shettima urged the new leadership of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission to prioritize Nigeria’s interest in policy decisions, stressing that the country should no longer import petroleum products that can be refined locally.

The IPMAN President called for policies enabling independent marketers to own and operate refineries in Nigeria, rather than relying on fuel imports, aligning with the association’s long-standing position to deepen domestic refining and phase out petroleum product imports.

According to Shettima, reducing fuel importation would attract foreign investors to Nigeria’s downstream sector, deepen value creation, and strengthen the economy. He announced that Dangote Petroleum Refinery would begin direct PMS supply to registered IPMAN members from January 2026, including free delivery to filling stations nationwide, which would lower pump prices.

Shettima directed IPMAN members to prioritize patronizing the Dangote refinery, describing it as the most affordable PMS source in the market.