By Yahaya Umar, Abuja
Following the Dangote Refinery recent price reduction, the Independent Petroleum Marketers Association of Nigeria, IPMAN, yesterday announced that pump price Premium Motor Spirit, PMS, otherwise known as petrol as from today is N935 per litre nationwide.
Dangote Refinery had earlier announced a reduction in fuel price by 7.27% from N970 per litre to N899.50 per litre at its loading gantry and provided generous credit terms to marketers.
IPMAN National President, Alhaji Maigandi Garima, made this known in Abuja.
Garima, said the new price is inline with reduction in Dangote Refinery’s fuel ex-depot price and uniform arrangement, which would enable marketers to sell at N935 in their outlets nationwide.
According to him, “We have been loading from the Dangote Refinery and the refinery is saving us in this festive period”.
He further said that Dangote Refinery has brought another new arrangement of loading and pricing by which marketers would pay a fixed ex-depot price of N899. 50k.
Dangote Refinery signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935, he added.
The national president pointed out that the price reduction which will among other things alleviate transport cost during the festive period and beyond, has commenced in Lagos before spreading to other parts of the country as from today.
The competition being witnessed in the downstream sector at the moment would see the price of fuel dropping continuously.
Besides, he equally commended the Naira for the crude swap deal, adding that it is good for the growth of the economy.
Meanwhile, NNPCL had also slashed fuel ex-depot price from N1,020 to N899. This simply implies that President Bola Tinubu’s administration is making positive impacts.By the time other refineries began to work, the price of pump spirit is gradually coming down and this implies how serious ODI in the village. will be more felt when others
