The National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Alhaji Abubakar Shettima, has urged independent petroleum marketers to rely on local refineries for product sourcing.
Shettima made the call in a statement issued on Thursday in Abuja, saying greater reliance on domestic refineries would optimise supply and guarantee long-term price stability for consumers.
He said embracing the country’s domestic refining capacity was a patriotic obligation that would eliminate costly freight and port charges, stimulate local employment and provide the quickest path to achieving national energy independence.
The IPMAN president also called on members to capitalise on the opportunity to evolve from mere off-takers of petroleum products into equity owners of primary production infrastructure.
According to him, such investment will strengthen the collective capacity of independent marketers to guarantee affordable and unhindered fuel distribution across all 36 states, while ensuring stability in pump prices.
Shettima also commended the management and board of the Dangote Petroleum Refinery and Petrochemicals on the planned commencement of its Initial Public Offering (IPO) and public share sales.
He described the development as a monumental paradigm shift from a privately held visionary project into a democratised national asset.
“As an association that controls over 80 per cent of Nigeria’s downstream petroleum retail infrastructure, operating more than 150,000 retail outlets across the nation, we recognise the strategic importance of this development.
“The Dangote Refinery’s robust operational capacity not only secures our domestic energy needs but also conserves vital foreign exchange.
“IPMAN believes that investment in the Dangote Refinery is a direct stake in the energy security and economic sovereignty of Nigeria,” he said.
