Petroleum marketers have expressed optimism that the price of Premium Motor Spirit (PMS), popularly called petrol, will fall in the coming days following the resumption of product loading at the Dangote Refinery.
The President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, confirmed the development to journalists on Monday, saying that members of the association have begun lifting petrol from the 650,000-barrel-per-day refinery.
“Our members have started loading at the Dangote Refinery at ₦877 per litre, up from ₦820,” Maigandi told Daily Post.
“We are expecting that with the availability of the product, the price would drop a little bit. I can’t say how much a drop is expected, but there would be a reduction in price.”
He explained that the resumption of supply would help ease nationwide shortages and restore stability in pump prices.
Journalists who went about several filling stations confirmed that petrol stations including MRS, Emedeb, Optima, and Bova have resumed dispensing petrol in parts of Abuja and Lagos.
Naijaonpoint reports that for the past two weeks, motorists in the capital city had bought petrol for between ₦940 and ₦965 per litre, up from about ₦905 to ₦910, as the supply disruption worsened.
Industry players had blamed the sharp increase on a temporary supply glitch at the Dangote Refinery, which had slowed nationwide distribution.
The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, also assured that the renewed flow of supply would soon translate into relief for Nigerians.
“Whenever there are enough petrol products from Dangote Refinery or the Depot and Petroleum Products Marketers Association of Nigeria, the country should be wet enough to guarantee affordability,” Gillis-Harry said.
He added that ensuring regular supply to depots and retail outlets remains key to reducing market speculation and maintaining steady pricing.
Last week, the Vice President of Dangote Industries, Devakumar Edwin, disclosed that over 310 million litres of petrol had been billed for loading from the refinery’s plant in Lagos.
He noted that this volume would help stabilise the domestic market and improve nationwide availability.
The resumption of loading by independent marketers comes amid growing expectations that competition in local refining will drive down prices and reduce dependence on imports.
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