IPMAN Encourages Members to Invest in Dangote Refinery IPO

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on its members nationwide to invest in the planned initial public offering (IPO) of Dangote Petroleum Refinery. National President Abubakar Shettima stated that this share sale would enable independent petroleum marketers to transition from merely purchasing refined products to owning stakes in one of Nigeria’s largest refining assets.

Shettima described the IPO as a strategic opportunity for marketers to acquire equity in the refinery, which has a nameplate capacity of 650,000 barrels per day. He emphasized that this investment would bolster their capacity to ensure affordable and stable fuel distribution across all 36 states.

Additionally, IPMAN urged Dangote Refinery to expand its direct allocation of Premium Motor Spirit to include all registered independent marketers, rather than a select few, to avoid distribution bottlenecks and reduce logistical costs. The association also called on the Federal Government to discourage petrol importation to enhance reliance on locally refined products.