The Independent Petroleum Marketers Association of Nigeria, IPMAN has announced reduction in the price of fuel
IPMAN revealed that Premium Motor Spirit (Petrol) price will be slashed by N50 upon lifting Dangote Petrol directly.
The National President of IPMAN, Abubakar Maigandi, disclosed this during an interview with Channels Television
This comes as Maigandi revealed that Dangote Refinery has agreed to sell petrol to its members at a price template of N940 and N990 per litre for depots and trucks.
According to him, with the Dangote Petrol price, IPMAN members who currently sell the product at between N1,150 and N1,200 per litre will reduce the price by N50 depending on the 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.
DAILY GIST recalls that IPMAN announced Dangote Refinery agreed to sell petrol to its members directly, which brought an end to Nigerian National Petroleum Company, which is the sole buyer of Dangote Petrol.
Meanwhile, Nigerians currently buy petrol between N1,060 and N1,200 at NNPCL retail outlets and other filling stations.
