Reduction in Petrol price; Dangote Refinery, IPMAN sign deal for 60m litres weekly supply – Crime Channels
Reduction in Petrol price; Dangote Refinery, IPMAN sign deal for 60m litres weekly supply
Dangote Refinery has reached a major agreement with the Independent Petroleum Marketers Association of Nigeria (IPMAN) to supply 60 million litres of Premium Motor Spirit (PMS) weekly.
This partnership is expected to significantly impact fuel distribution across the country.
In an update shared with Daily Post on Sunday, IPMAN spokesperson Chinedu Ukadike confirmed that fuel prices had already begun to dip at member filling stations nationwide.
The price reductions, which range from N10 to N50 per litre, follow the new direct supply arrangement with Dangote Refinery.
This deal, which was initially announced on November 11, 2024, has fueled optimism among Nigerians that fuel prices could continue to decrease.
Ukadike emphasised that the agreement with Dangote Refinery would not only ensure a steady fuel supply but also contribute to stabilizing petrol prices across the country.
He said: “While the discussion is still ongoing, Dangote has offered to give us over 60 million litres depending on our patronage.
“The 60 million litres is to be given weekly. And we can take and distribute it across the country once we start lifting the product from the refinery.
“It is obvious now that the prices of the products have crashed. You would have noticed the drop in prices by N10, N15, something N50 or so, and this is due to competition and deregulation in the oil and gas sector.”
