The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged its members nationwide to participate in the planned initial public offering (IPO) of Dangote Petroleum Refinery, describing the share sale as an opportunity for independent petroleum marketers to become equity owners in the refinery.
The association said investing in the offering would allow its members to move beyond their traditional role as buyers and distributors of refined petroleum products and acquire stakes in a major domestic refining asset.
IPMAN National President, Abubakar Shettima, made the call in a statement on Thursday while congratulating the management and board of Dangote Petroleum Refinery and Petrochemicals on the planned public share sale.
Shettima urged independent petroleum marketers to take advantage of the offering, which he described as a strategic opportunity to acquire equity in the refinery.
According to him, broader participation by independent marketers could strengthen their capacity to support the distribution of petroleum products across the country.
He said such ownership could also contribute to the association's objective of supporting steady fuel distribution and price stability across Nigeria's 36 states.
Beyond the IPO, IPMAN called on Dangote Refinery to expand its direct allocation of Premium Motor Spirit (PMS) to cover all registered independent petroleum marketers nationwide.
The association argued that restricting direct access to selected marketers could create distribution bottlenecks and increase costs through additional logistics and intermediary charges.
IPMAN therefore asked the refinery to broaden its direct allocation framework rather than limiting supplies to selected distributors.
The association said wider direct access would help reduce what it described as anti-competitive bottlenecks and excessive logistics charges, while improving the availability of locally refined petrol to consumers.
IPMAN also appealed to the Federal Government to discourage continued petrol imports, arguing that greater reliance on domestic refining would reduce pressure on Nigeria's foreign exchange resources and lower distribution costs.
The association's position comes as Dangote Refinery continues to play a growing role in Nigeria's domestic petroleum supply chain.
The refinery has a nameplate capacity of 650,000 barrels per day, making it one of the world's largest single-train refineries.
IPMAN's position consequently links its support for the refinery's planned public share sale with its broader call for wider access to locally refined petrol, greater participation by independent marketers and reduced dependence on imported PMS.