The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said the price of petrol will drop to N935 per litre effective from today. IPMAN said the new price was necessitated by the reduction in Dangote Refinery’s fuel ex-depot price and uniform arrangement, which would enable marketers to sell at N935 in their outlets nationwide. Speaking…
The Nigerian National Petroleum Company Limited (NNPCL), has reduced the pump price of Premium Motor Spirit (PMS), also known as petrol across its retail outlets, Tribune Online reports. According to Tribune Online, who visited the NNPCL retail outlets in Ibadan observed that petrol, which was sold between N1,025 to N1,040 per litre, has been reduced…
Nigeria’s downstream oil sector deregulation has sparked a gradual decline in petrol prices, presenting new opportunities for businesses and consumers. According to the Independent Petroleum Marketers Association of Nigeria (IPMAN) and major oil marketers, this shift could drive increased market competition, optimize supply chains, and reduce costs for end-users. This development comes as the Nigerian…
The Independent Petroleum Marketers of Nigeria (IPMAN) yesterday cautioned the Nigerian National Petroleum Company Limited (NNPCL) against further increase in petrol price. Its National Vice-President Abubakar Maigadi warned that further increases would not favour the market especially now that the demand for the product has dropped. He said: “We are waiting for the new consignment…
As the federal government prepares to completely deregulate the downstream sector of the Nigerian oil and gas industry in the coming months, stakeholders in the sector have told Nigerians to be ready to pay as much as N750 per litre of petrol at filling stations. This was the highpoint of stakeholders’ interventions during an online…
