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Dangote Refinery: IPMAN Announces Fuel Price Slash

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced a N50 reduction in petrol prices when sourced directly from Dangote Refinery.

IPMAN’s National President, Abubakar Maigandi, shared this during an interview with Channels Television on Tuesday.

Maigandi explained that Dangote Refinery will supply petrol to IPMAN members at a set rate of N940 per litre for depots and N990 per litre for trucks. He noted that this new pricing will allow IPMAN members, who currently sell petrol between N1,150 and N1,200 per litre, to lower prices by N50 depending on location.

“Presently, we have been given two different arrangements on how to buy fuel from the refinery.

“There is the one that we can load the vessels and carry to our various depots at the rate of N940 per litre. Then for the depots, it is at the rate of N990 per litre.

“For instance, the current price in Maiduguri now is N1,200 per litre. So with these current changes, it may likely reduce to N1,150, which is a reduction of N50. So that’s N1,150. It may even be below that”, he stated.

On Monday, IPMAN announced that Dangote Refinery has agreed to sell petrol directly to its members, ending Nigerian National Petroleum Company’s role as the exclusive buyer of Dangote petrol.

This update follows Dangote Refinery’s announcement that its petrol will be priced at N960 per litre for ships and N990 per litre for trucks.

Currently, Nigerians are paying between N1,060 and N1,200 per litre at NNPCL outlets and other filling stations.

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