Toba Owojaiye reporting
Abuja, Nigeria
In a move that promises relief for Nigerians, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that petrol prices will drop to N935 per litre from today, thanks to Dangote Refinery’s recent price reduction and strategic arrangements.
Truth Live News gathered that while speaking to the News Agency of Nigeria (NAN), Alhaji Maigandi Garima, IPMAN National President, confirmed that Dangote Refinery had slashed its ex-depot price to N899.50 per litre, enabling marketers to sell at the reduced price nationwide. The refinery also introduced generous credit terms for marketers to ensure the benefit reaches end consumers.
This development is expected to alleviate transportation costs during the festive season and beyond. The reduction has already taken effect in Lagos and will be rolled out across the country starting today.
Garima highlighted the ongoing competition in the deregulated downstream sector, predicting further price drops as more private refineries, including Warri and Kaduna, begin production.
For millions of Nigerians grappling with high living costs, this announcement brings hope for a more affordable festive season and signals the potential for lasting economic relief.