The Independent Petroleum Marketers Association of Nigeria, IPMAN says fuel pump price will reduce to 935 naira per litre from today, Monday, following a new deal with Dangote Refinery.
IPMAN National President, Maigandi Garima, who made this known in Abuja, lauded the Dangote refinery for the development. He also noted that the new price was necessitated by the reduction in Dangote Refinery’s fuel ex-depot price and uniform arrangement, which would enable marketers to sell at N935 in their outlets nationwide.
It would be recalled that Dangote Refinery recently announced a reduction in fuel price by 7.27 per cent from 970 naira per litre to 899 naira 50 kobo per litre at its loading gantry and provided generous credit terms to marketers.
Garima also said the competition being witnessed in the downstream sector at the moment would see the price of fuel dropping continuously.
The IPMAN National President recalled that during the 2023 Yuletide, a litre of fuel was sold at 2,000 naira in the northern and eastern parts of the country because fuel was being imported at that period.
