Fuel Relief: IPMAN To Lower Petrol Prices Following New Deal With Dangote Refinery

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has revealed plans to reduce the price of Premium Motor Spirit (Petrol) by ₦50 per litre. This price cut is a result of a new agreement with…CONTINUE READING...

Dangote Refinery, confirmed by IPMAN’s National President, Abubakar Maigandi,.

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Maigandi explained that Dangote Refinery has established a price structure of ₦940 per litre for depot purchases and ₦990 per litre for truck deliveries to IPMAN members, which is expected to lower petrol prices nationwide. He highlighted that, currently, IPMAN members sell petrol at prices ranging from ₦1,150 to ₦1,200 per litre, but the new arrangement will see prices drop by ₦50, depending on location.

For example, in Maiduguri, where petrol is priced at ₦1,200 per litre, the new price could reduce to ₦1,150, with potential for even lower rates.

This agreement comes after IPMAN confirmed that Dangote Refinery would directly supply petrol to its members, bypassing the Nigerian National Petroleum Company, the previous sole buyer of Dangote’s petrol. The refinery’s petrol is currently priced at ₦960 and ₦990 per litre for ship and truck deliveries, respectively.