By Divine Sam
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced a reduction in the price of petrol by N50 for its members, following an agreement with Dangote Refinery. According to IPMAN’s National President, Abubakar Maigandi, petrol will now be available at a price between N940 and N990 per litre, depending on whether it’s purchased directly from the refinery or through depots.
As a result, the current retail price of petrol in some areas, such as Maiduguri, where it is currently sold for around N1,200 per litre, is expected to decrease by about N50, potentially bringing it down to N1,150 or even lower. This shift comes after the refinery started selling directly to IPMAN members, effectively bypassing the Nigerian National Petroleum Company Limited (NNPCL) as the sole distributor.
This price adjustment follows Dangote Refinery’s announcement that it will sell petrol at N960 and N990 per litre, depending on whether it’s purchased by ships or trucks. As of now, petrol is being sold between N1,060 and N1,200 per litre at NNPCL retail outlets and other stations across Nigeria.