Petrol Marketers Begin Implementing Fuel Price Drop Nationwide – IPMAN

The Independent Petroleum Marketers Association of Nigeria has announced that its members will begin implementing Dangote Refinery’s latest fuel price reduction from Tuesday through next week.

IPMAN spokesperson, Chinedu Ukadike disclosed this to DAILY POST exclusively, noting that Nigerians would start feeling the impact of the fuel price cut.

This comes as Dangote Refinery last cut its gantry by N129 to N699 per liter from N828.

Aliko Dangote on Sunday said, following his gantry price drop, Nigerians ought to be paying for petrol at N740 per liter.

“So from Tuesday and next week, you will see the reactions and the dividends of this reduction in petroleum price,” he said.

Speaking on the renewed feud between Dangote and the chief executive officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, he said that both need to collaborate for the benefit of Nigerians.

“But I also believe that NMDPRA and Dangote should collaborate to ensure that there is a steady supply of petroleum products and to enable the masses to enjoy the benefits of this reduced price,” he appealed.

A Daily Post market survey on Monday showed that Bovas filling station in Abuja’s Wuse Zone 6 had crashed its retail fuel price to N865 per liter, down from N910 earlier on Monday.

Empire Energy, Ranoil in Gwarimpa, Abuja, have adjusted their pump to 912 and 910 per liter.

Nigerian National Petroleum Company Limited (NIPCO) and AA Rano filling stations in Abuja dispense petrol as of Monday night at N915, N905, and N910 per liter, respectively.

The MRS retail price remained unchanged at N910 per liter but may come down from Tuesday.