The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that the price of petrol will drop to N935 per litre nationwide by Monday.
The expected price change is due to a new pricing arrangement by Dangote Refinery.
IPMAN National President Maigandi Garima, who disclosed this, said that the reduction in fuel ex-depot price and a uniform pricing arrangement by Dangote Refinery would enable marketers to sell petrol at a reduced price, DailyNigerian reports.
Garima was quoted as saying:
“Dangote refinery has introduced a new arrangement of loading and pricing, with marketers now paying a fixed ex-depot price of N899.50 per litre.
This initiative is designed to ensure uniform fuel consumption rates across the country.”
“We have been loading from the Dangote Refinery, and this new programme is expected to ease the burden of fuel costs during this festive season. Previously, the loading price was N970 per litre, but from Monday, petrol prices will drop to N935.
NNPC, Dangote slash prices
Legit.ng reports that the Nigerian National Petroleum Company Limited (NNPCL) has lowered its ex-depot petrol price to N899 per litre, just three days after the Dangote Refinery announced a similar reduction to N899.50 per litre.
The recently rehabilitated Port Harcourt Refinery, operated by NNPCL, initially sold petrol at an ex-depot price of N1,045 per litre. This was later reduced to N1,030, then N1,020, before the latest cut to N899 per litre.
Dangote Refinery is partnering with MRS Oil to reduce the pump price of petrol for the holiday season.
NNPC new CNG locations for Nigerians
In another development, Legit reported that NNPC Ltd has urged Nigerians to consider switching to Compressed Natural Gas (CNG).
The oil company has announced plans to develop more CNG stations to enable Nigerians to refill their vehicles at affordable rates.
The proposed locations for the new CNG stations include Gaduwa, Wuse, Gudu, Dei Dei, Ushafa, and Gwagwalada.
