The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced plans to lower petrol prices by ₦50 per litre. This potential reduction follows a new agreement between IPMAN and Dangote Refinery, aiming to ease the burden of rising fuel costs on Nigerians.
IPMAN National President Abubakar Maigandi revealed that Dangote Refinery will offer petrol to IPMAN members at ₦940 per litre for depot purchases and ₦990 per litre for truck purchases. This arrangement should allow IPMAN members, who currently sell petrol at ₦1,150 to ₦1,200 per litre, to pass on the savings to consumers.
The anticipated price cut is expected to bring some relief to Nigerians amid ongoing fluctuations in fuel prices, addressing a pressing issue for many households.