IPMAN Announces Significant Reduction in Petrol PriceThe Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced a substantial decrease in the price of Premium Motor Spirit (PMS), commonly known as petrol. Effective immediately, petrol will be sold at ₦935 per litre across all outlets nationwide.
This price adjustment follows a new agreement between IPMAN and the Dangote Petroleum Refinery, which sets a fixed ex-depot price of ₦899.50 per litre. The arrangement aims to ensure uniform pricing and efficiency in distribution, with marketers incurring a logistical cost of ₦36 per litre.
According to IPMAN’s National President, Maigandi Garima, “Dangote refinery has introduced a new arrangement for loading and pricing, where marketers will pay a fixed ex-depot price of ₦899.50. This standardized framework ensures that petrol consumption across the country is at the same rate.”
The rivalry between NNPCL and Dangote is expected to drive competitive pricing, resulting in lower costs for commuters. “With the price reduction, marketers will be able to pick up higher volumes, making PMS more accessible to consumers. The decreased cost will likely lead to increased consumption and benefit the overall economy,” said Ukadike.
Under the new agreement, marketers will load products from both the Dangote Refinery and NNPCL depots. The arrangement ensures proximity to retail outlets, enhancing efficiency in distribution.Analysts believe this development will encourage economic growth, reduce transportation costs, and improve access to PMS nationwide. The reduced petrol price is expected to provide relief to Nigerians, offering more affordable fuel prices and fostering healthy competition in the deregulated market.
Source : https://abntv.com.ng
