- IPMAN urges Nigerians to avoid panic buying, assuring that there is enough fuel in the country.
- Dangote Petroleum Refinery reduces petrol price to N899.50k per litre.
- The price reduction is expected to reduce transport costs ahead of the Yuletide holidays.
- IPMAN attributes the price reduction to deregulation, which allows market forces to determine prices.
- IPMAN members are encouraged to adjust their pump prices to attract more customers.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) is urging Nigerians to avoid panic buying of fuel, assuring them that there’s enough supply in the country. IPMAN’s Publicity Secretary, Mr. Ukadike Chinedu, made this announcement on Sunday in Abuja, commending Dangote Petroleum Refinery for reducing the price of petrol to N899.50k per litre .
This price reduction is expected to help reduce transport costs for Nigerians ahead of the Yuletide holidays. Chinedu attributed the price reduction to deregulation, which allows market forces to determine prices. With the Dangote and Federal Government refineries operational, this will bring competitive prices, he added.
IPMAN has also advised its members to adjust their pump prices to the new rate to attract more customers. Some members have already started adjusting their pumps, and this has reduced queues at NNPC filling stations . So, no need to panic, Nigerians!
