Dangote Petrol: IPMAN Announces Fuel Price Cut

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced a N50 reduction in the price of Premium Motor Spirit (PMS), also known as petrol, following the direct supply of petrol from Dangote Refinery.

Abubakar Maigandi, the National President of IPMAN, made the announcement during an interview with Channels Television on Tuesday.

He revealed that Dangote Refinery has agreed to sell petrol to IPMAN members at a price range of N940 to N990 per litre for depots and trucks.

As a result, IPMAN members, who currently sell petrol at between N1,150 and N1,200 per litre, will reduce the price by N50, depending on the location.

“Presently, we have been given two different arrangements on how to buy fuel from the refinery.

“There is the one that we can load the vessels and carry to our various depots at the rate of N940 per litre. Then for the depots, it is at the rate of N990 per litre.

“For instance, the current price in Maiduguri now is N1,200 per litre. So with these current changes, it may likely reduce to N1,150, which is a reduction of N50. So that’s N1,150. It may even be below that”, he stated.