Dangote: IPMAN Announce New Petrol Price Across Nigeria Effective Monday

The Independent Petroleum Marketers Association of Nigeria (IPMAN) says fuel stations across the country would sell petrol to customers at the rate of ₦935 as from Monday, 23rd December.

The IPMAN National President, Alhaji Maigandi Garima, made the disclosure on Sunday during a chat with newsmen.

He assured that outlets across the country would adopt the new price template based on the recent price slash of fuel coming from Dangote Refinery.

Naijaonpoint recalls in a bid to provide relief for Nigerians ahead of the holiday season, Dangote Petroleum Refinery announced a price reduction for its Premium Motor Spirit (PMS) product, to ₦899.50k per litre.

The announcement was made in a statement released on Thursday morning by the company’s Group’s Chief Branding and Communications Officer, Anthony Chiejina.

Against the backdrop of the announcement, Garima told the News Agency of Nigeria (NAN) on Sunday in Abuja that Nigerians would now be able to purchase fuel at ₦935 as from Monday.

“Dangote refinery has brought another new arrangement of loading and pricing by which marketers would pay a fixed ex-depot price of N899. 50k.

“The refinery is running a programme whereby it wants the fuel consumption across the country to be at the same rate. We are expecting the new arrangement to kick-start on Monday.

“We have been loading from the Dangote refinery and the refinery is saving us in this festive period,’’ he said.

He expressed hope that the price of petrol would reduce further as competition increases in the downstream sector as a result of the deregulation of the sector.

“That is the reason why we have been asking the government to allow private sectors to participate in the refinery business.

“Very soon more refineries are coming up and the country will see a lot of price reduction in the downstream sector.

“By the time Warri and Kaduna resume production, one can buy products at cheaper rates and it is good for the economy,’’ he said.

Specifically, the IPMAN President praised the impact of the Naira crude swap deal, adding that it is a good development for the growth of the economy and is a contributory factor to the reduced fuel prices.