Marketers to Slash Fuel Price by N50 with Dangote Supply

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced a reduction in petrol prices by N50 per litre for fuel sourced directly from the Dangote Refinery. The association’s National President, Abubakar Maigandi, shared this development in an interview with Channels Television, revealing a new supply arrangement that allows IPMAN members to buy fuel at a more favourable rate.

Under the agreement, Dangote Refinery will supply petrol at N940 per litre for depot loads and N990 per litre for direct truck purchases, effectively reducing IPMAN members’ selling price, which currently ranges between N1,150 and N1,200 per litre depending on the region.

“Presently, we have been given two different arrangements on how to buy fuel from the refinery,” Maigandi explained. “One option allows us to load the vessels to our depots at N940 per litre. For direct truckloads, it’s priced at N990 per litre.”

He illustrated the impact of this arrangement in Maiduguri, where the current price of N1,200 per litre could decrease to N1,150 or even lower. This new pricing flexibility comes as IPMAN now sources fuel directly from Dangote Refinery, ending the exclusive intermediary role of the Nigerian National Petroleum Company Limited (NNPCL).

At present, Nigerians pay between N1,060 and N1,200 per litre at NNPCL and other retail outlets. The price reduction from IPMAN, therefore, promises some relief as fuel prices remain a significant concern for many. Explosion Outside Brazil’s Supreme Court Leaves One Dead