Petrol price hits ₦935/litre nationwide starting Monday, marketers say
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that petrol will be sold at ₦935 per litre nationwide starting today, following a new arrangement with the Dangote Petroleum Refinery.
IPMAN’s National President, Maigandi Garima, explained that Dangote’s reduction in the ex-depot price to ₦899.50 per litre and the uniform pricing plan will allow marketers to sell at ₦935, factoring in ₦36 for logistics. Previously, the ex-depot price was ₦970 per litre.
Over 30,000 IPMAN members will begin loading petrol from Dangote and the Port Harcourt Refining Company, as the ex-depot price drops to ₦899.
This comes after some filling stations in Lagos, such as MRS, BOVAS, and NNPC, dropped prices to between ₦950 and ₦980 per litre on Sunday. However, many stations still sold above ₦1,000 per litre.
IPMAN also confirmed that more filling stations will adopt the ₦935 price from today, following the new pricing arrangement. Additionally, retail outlet owners are registering with MRS stations to lift Dangote petrol at the new price.
This move follows recent price reductions by both Dangote and NNPCL, which sparked a price competition in the sector.
Last week, NNPCL also slashed petrol prices by 12%, further benefiting consumers during the festive season.
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