The Petroleum Products Marketers Association of Nigeria has announced plans to lower the price of premium motor spirit starting Monday, following the recent reduction in ex-depot prices by Dangote Refinery.
The National President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, disclosed this to Daily Post in an interview on Friday.
This comes as Dangote Refinery on Thursday slashed its ex-depot petrol price to N820 per litre from N840.
Reacting to the development, Maigandi said IPMAN members plan to follow in the footsteps of the 650,000 barrels-per-day refinery.
He noted IPMAN will be meeting on Monday to announce a downward revision of its petrol price.
“Whether Dangote Refinery or ex-depot petrol price, our members will also reduce. We will announce a fresh fuel price on Monday,” Maigandi told Daily Post.
Retail outlets in Abuja sell petrol between N905 per litre and N945 per litre as of Friday.
While the Nigerian National Petroleum Company Limited, NIPCO, AA Rano, Shema, and other retail outlets in Abuja dispense fuel at N910, MRS, AP Ardova, and other Dangote Refinery retail partners sell at N905 per litre.
Ranoil, Empire Energy, and Total Emadeb dispense fuel, as of Friday, in the nation’s capital between N920 and N945 per litre.
