By Oso Abidemi
Nigerians may soon begin to buy petrol at a reduced rate of ₦800 per litre, as the Independent Petroleum Marketers Association of Nigeria (IPMAN), has projected a significant drop in pump prices due to supply partnerships with the Dangote Refinery.
Speaking with Daily Post, IPMAN National Public Relations Officer, Chinedu Ukadike, said the price of Premium Motor Spirit (PMS), currently selling between ₦875 and ₦910 in Lagos and Abuja, could fall further as the Dangote Refinery ramps up distribution.
Ukadike emphasized the need for equitable access, urging the refinery to sell products to all petroleum marketers at the same rate it gives to the Nigerian National Petroleum Company Limited (NNPCL), MRS, and a few others.
“Whatever yardstick Dangote Refinery is using to sell to NNPCL, MRS, and others, it should extend to all marketers,” he said. “Now that petrol is nosediving to ₦800 per litre, consumption will rise because more motorists will be able to afford it.”
He explained that fuel pricing is now largely determined by market forces rather than government regulation, and that increased availability at competitive prices will naturally drive down pump costs.
Dangote Refinery’s recent supply push has already led to a modest reduction in pump prices, with some retail outlets selling petrol at ₦875 to ₦895 per litre in key cities.
The anticipated drop, if sustained and widespread, could bring much-needed relief to Nigerians grappling with high transportation costs and inflation.
