Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced reduction in price of petrol by N50 per litre when purchasing directly from Dangote Refinery.
This is coming after Monday’s deal where Dangote Refinery agreed to sell petrol directly to IPMAN members, ending the Nigerian National Petroleum Company Limited (NNPCL)’s role as the exclusive buyer of Dangote’s petrol.
Currently, motorists pay between N1,060 and N1,200 per litre at NNPCL retail outlets and other filling stations.
IPMAN’s National President, Abubakar Maigandi, shared disclosed the situation during a press interview on Wednesday.
According to him, Dangote Refinery had agreed to supply petrol to IPMAN members at a rate of N940 per litre for depots and N990 per litre for trucks.
With this arrangement, Maigandi said IPMAN members who currently sell petrol between N1,150 and N1,200 per litre would adjust their prices down by N50, depending on the location.
Maigandi said, “Presently, we have been given two different arrangements on how to buy fuel from the refinery.
“There’s one where we can load the vessels and carry them to our various depots at the rate of N940 per litre. Then, for the depots, it is at the rate of N990 per litre.”He stated that in Maiduguri (Borno State) for instance, “the current price is N1,200 per litre. With these 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.”
