- The Independent Petroleum Marketers Association of Nigeria (IPMAN) announced a reduction in petrol price to N935 per litre starting Monday.
- The price reduction is due to Dangote Refinery’s decrease in fuel ex-depot price and uniform arrangement.
- Dangote Refinery reduced its fuel ex-depot price from N970 to N899.50 per litre.
- The new price arrangement is expected to alleviate transport costs during the festive period and beyond.
- The price reduction will be implemented nationwide, starting from Monday.
Fuel prices are set to drop even further, with the Independent Petroleum Marketers Association of Nigeria (IPMAN) announcing that petrol will sell for N935 per litre starting Monday. This development comes on the heels of Dangote Refinery’s decision to reduce its fuel ex-depot price to N899.50 per litre .
Aliko Dangote, President of Dangote Group, attributed the price reduction to the Naira-for-crude deal and commended President Bola Tinubu for the positive economic impact. To ensure the price reduction benefits end consumers, Dangote Refinery has partnered with MRS to sell petrol at N935 per litre nationwide .
This move is expected to spark a price war among oil majors, ultimately benefiting Nigerian consumers. The NNPC Ltd. has also slashed its fuel ex-depot price from N1,020 to N899, further increasing competition in the market .
