The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced a reduction in petrol prices following a new agreement with the Dangote Refinery.
According to IPMAN’s National President, Abubakar Maigandi, the price of Premium Motor Spirit (Petrol) will be decreased by ₦50 per litre when members purchase directly from the refinery.
Under the new arrangement, petrol will be sold at ₦940 per litre via ships and ₦990 per litre via trucks. As a result, petrol prices at IPMAN outlets, which currently range between ₦1,150 and ₦1,200 per litre, will be reduced to around ₦1,100 per litre, depending on the location.
This development is expected to ease the financial burden on consumers and improve the availability of petrol across the country.
The agreement also signifies the end of the Nigerian National Petroleum Company Limited’s (NNPCL) monopoly as the sole buyer of Dangote Refinery’s petrol.
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