KEY POINTS
- IPMAN plans to pursue refinery ownership, subject to regulatory approval, as part of a push to deepen domestic refining.
- Members have been directed to prioritise buying petrol from the Dangote refinery, with direct supply set to begin in January 2026.
- The association is urging regulators to curb fuel imports, settle N190bn in bridging claims and back policies that attract investment into the downstream sector.
Nigeria’s independent petrol retailers, IPMAN, are preparing for a more ambitious role in the country’s energy market, with plans to invest directly in refinery ownership and a fresh push to align supply chains around domestic production.
The Independent Petroleum Marketers Association of Nigeria said it is exploring the move as part of a broader effort to cut fuel imports, stabilise prices and anchor reforms in the downstream sector.
At the same time, the association has instructed its members nationwide to prioritise the purchase of Premium Motor Spirit from the Dangote Petroleum Refinery, a decision it says will strengthen local refining capacity and reinforce recent policy changes aimed at reshaping the oil and gas industry.
Speaking at a press briefing in Abuja on Thursday, IPMAN’s national president, Abubakar Shettima, said the ambition to own refineries would depend on regulatory approvals but reflected a long held view that Nigeria must refine what it consumes.
His comments came amid leadership changes at the Nigerian Midstream and Downstream Petroleum Regulatory Authority and the Nigerian Upstream Petroleum Regulatory Commission, developments that have reignited debate over the future direction of the sector.
Shettima said independent marketers are already deepening their commercial ties with the Dangote refinery, describing the partnership as central to ensuring consistent petrol supply across the country. He added that the association expects a more supportive regulatory environment under the new leadership, one that prioritises domestic refining and creates room for private investors beyond the largest players.
Marketers press regulators to back local refining and curb imports
According to Shettima, policy clarity is critical if Nigeria is to end its dependence on imported fuel. He urged regulators to discourage imports where local capacity exists and to introduce frameworks that allow independent marketers to finance, build and operate refineries at scale.
“We should not be importing products that we can refine here,” he said. “There has to be a policy that allows independent marketers to own refineries and refine in the country rather than relying on imports.”
He said IPMAN supports President Bola Tinubu’s decision to overhaul the leadership of the regulatory agencies, adding that the changes could help restore investor confidence and refocus policy on national interest. Reducing fuel imports, he argued, would help conserve foreign exchange, encourage value creation and draw foreign investors into refinery-adjacent businesses.
From January 2026, the Dangote refinery is expected to begin direct supplies of petrol to registered IPMAN members, including free delivery to filling stations nationwide. Shettima said the arrangement would reduce logistics costs and translate into lower pump prices for consumers.
With independent marketers accounting for more than 80 per cent of petrol retail outlets in Nigeria, he said the association is confident it can guarantee nationwide supply without shortages once the new distribution framework is in place. He urged members to patronise the Dangote refinery, describing it as the most competitively priced source of petrol currently available.
Shettima also used the briefing to criticise continued fuel importation alongside local refining, warning that issuing import licences in parallel with domestic production distorts the market. Such practices, he said, drain foreign exchange, destroy jobs and deter long term investment.
While congratulating the new heads of the petroleum regulatory agencies, he called on the NMDPRA to urgently address outstanding bridging claims owed to IPMAN members, estimated at more than N190bn. He said settling the debt would ease cash flow pressures on marketers and support smoother distribution nationwide.
Nigeria has relied heavily on imported fuel for decades following the decline of its state owned refineries, a dependence that has left the economy exposed to global price swings. The start up of the 650,000 barrel a day Dangote refinery has begun to shift that balance, intensifying scrutiny of regulation, pricing and competition in the downstream market.
Recent disputes between the refinery and regulators over import licences and market dominance have underscored the stakes involved, contributing to leadership changes at key agencies. For IPMAN, the moment represents both a challenge and an opportunity to reposition independent marketers at the heart of Nigeria’s refining future.
