IPMAN Announces N50 Reduction in Petrol Prices as Dangote Refinery Begins Direct Supply
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced a reduction in petrol prices by N50 per liter following an agreement with Dangote Refinery for direct supply. IPMAN’s National President, Abubakar Maigandi, revealed the development on Tuesday during an interview with Channels Television.
According to Maigandi, Dangote Refinery has agreed to supply petrol to IPMAN members at N940 per liter for vessels and N990 per liter for depots. This move is expected to bring down the pump price of petrol, which is currently sold between N1,150 and N1,200 per liter in some locations, depending on transportation and logistics costs.
“Presently, we have been given two different arrangements on how to buy fuel from the refinery,” Maigandi said. “There is the one that we can load the vessels and carry to our various depots at the rate of N940 per liter. Then for the depots, it is at the rate of N990 per liter.”
The price reduction will vary by region. For example, in Maiduguri, where fuel costs have been among the highest at N1,200 per liter, IPMAN members anticipate bringing prices down to N1,150 or possibly lower, relieving consumers affected by recent price surges.
This change also marks the end of the Nigerian National Petroleum Company Limited (NNPCL) as the sole buyer of petrol from Dangote Refinery, following Dangote’s announcement on Monday that it would sell gasoline at N960 per liter for ship-based transfers and N990 per liter for truck-based supply.
Nigerians currently face prices between N1,060 and N1,200 at NNPCL outlets and other filling stations nationwide. IPMAN’s partnership with Dangote aims to stabilize fuel costs for the public and address issues of supply shortages across regions
