Good news for motorists! Petrol prices are expected to reduce as IPMAN and Dangote agree on direct fuel sales. Learn how this impacts you.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that the initiation of direct sales of Dangote’s Premium Motor Spirit (Petrol) to its members is expected to significantly lower fuel prices in the country soon.
James Tor, the National Secretary of IPMAN, made this statement during an exclusive interview with OBASANJONEWS on Monday, following the announcement by IPMAN National President, Abubakar Maigandi, regarding the agreement with Dangote Refinery to sell petrol directly to its members.
This arrangement marks the end of the intermediary role previously held by the Nigerian National Petroleum Company Limited during the initial lifting of Dangote petrol on September 16, 2024.
The direct sale agreement indicates that petrol marketers will now rely on Dangote petrol instead of imported fuel.
Tor emphasized that this agreement will lead to a significant decrease in petrol prices and improved availability across the nation, projecting that the pump price at independent marketers’ outlets could fall below N1,150 per litre.
He stated that the commencement of this business arrangement would facilitate easier access to the product and favorable pricing, as IPMAN members operate numerous filling stations nationwide.
Anthony Chiejina, a spokesperson for Dangote Group, confirmed the agreement between IPMAN and Dangote Refinery for the direct sale of PMS, noting that petroleum marketers had recently sought this partnership.
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