Price Of Petrol Set To Reduce In Nigeria – IPMAN, Others Speak

Petroleum marketers in Nigeria have hinted at a reduction in the price of petrol in the coming days once they begin to receive the product directly from Dangote Refinery.

The marketers said once they begin to get a direct supply of petrol from Dangote, all the costs associated with lifting petrol with the Nigerian National Petroleum Company Limited (NNPCL) as the middleman would be eliminated, and they can sell at a cheaper price to Nigerians.

Naija News recalls the federal government has given approval for the marketers to source petroleum products directly from Dangote.

Speaking on the development, the spokesperson of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, confirmed to Daily Post during an interview on Monday that once members of the association get fuel directly from Dangote, they would be able to sell cheaper than what the NNPC is offering to Nigerians.

He said with IPMAN controlling about 70 percent of filling stations nationwide, their price will drop below NNPCL’s current fuel price of ₦1030 per litre in Abuja.

Ukadike, however, did not give any expected price, noting that they are still waiting for the price template from Dangote Refinery.

“We are still waiting on Dangote Refinery on the direct sale of its petrol to our members and the price template.

“Our petrol price will be cheaper than that of NNPC Retail price if Dangote Refinery sells petrol to us.

“Because we are buying from the same source, the fee NNPC puts on top before selling to marketers will be cut off.

“We are not government workers, we don’t earn salaries, our profits emerge from turnovers.

“We are hoping we have a meeting with Dangote Refinery Tomorrow (Tuesday) or soon,” he said.

Similarly, the President of the Petroleum Products Retail Outlets Owners Association (PETROAN), Billy Gillis-Harry, said they are awaiting a price template from Dangote, noting that they can’t mobilize trucks to the refinery without knowing how much the products are being offered.

“They have requested a letter from us, but we’ve not received an update after sending the letter.

“Till today, they have yet to tell anybody how much they are selling their product. They expect us to take our trucks to the refinery plant without knowing the price of petrol?

“We’re willing to support Dangote Refinery,” he said.