Fuel to sell at N935 per litre from Monday -IPMAN

In a major development, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has confirmed that fuel prices will be reduced to ₦935 per litre by Monday, following a new pricing structure introduced by Dangote Refinery.

Alhaji Maigandi Garima, the National President of IPMAN, shared the news in an interview on Sunday, highlighting the refinery’s decision to cut its ex-depot price to ₦899.50 per litre. This move, alongside a uniform pricing plan, will ensure marketers nationwide sell at the new reduced rate.

Dangote Refinery, which recently slashed its prices by 7.27% from ₦970 to ₦899.50, is also collaborating with MRS to roll out the reduced price across their retail outlets.

“This arrangement will ensure a consistent fuel price across the country,” Garima said, praising the refinery’s initiative to ease transport costs during the festive season.

The price drop is part of a broader shift in Nigeria’s deregulated fuel market, with more refineries coming online expected to drive prices even lower.

“As refineries like Warri and Kaduna begin production, Nigerians will continue to see prices fall, which is a boost for both consumers and the economy,” Garima noted.

This move signals a significant turning point in Nigeria’s fuel industry, marking a new era of affordability and competition.