IPMAN Sets Monday Target For Petrol To Sell At 935 Per Litre Nationwide

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has confirmed that the pump price of petrol will drop to ₦935 per litre nationwide starting Monday.

This announcement was made by IPMAN’s National President, Alhaji Maigandi Garima, on Sunday in Abuja. He commended Dangote Refinery for facilitating the new pricing structure aimed at reducing transportation costs during the festive season and beyond.

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Garima revealed that the price reduction is already in effect in Lagos and will extend across the country by Monday. Under the new arrangement, marketers will pay a fixed ex-depot price of ₦899.50.

“Dangote Refinery has implemented a pricing programme to ensure uniform fuel consumption rates across the country. We expect this system to fully take off on Monday,” he stated.

He added that the current highest pump price of ₦1,100 per litre in some areas would decrease as refineries continue to operate effectively.

The IPMAN president also praised the Naira-for-crude swap deal, describing it as a significant boost for economic growth.

This development aligns with the Nigerian National Petroleum Company Limited’s (NNPCL) recent reduction of the ex-depot fuel price from ₦1,020 to ₦899.

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The decrease in petrol prices highlights the impact of deregulation and heightened competition within the petroleum industry.

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