The Independent Petroleum Marketers Association of Nigeria (IPMAN) has assured Nigerians of sufficient fuel supply nationwide and urged citizens to avoid panic buying during the festive season.
Mr. Ukadike Chinedu, IPMAN’s Publicity Secretary, made the appeal on Sunday in Abuja, highlighting the positive impact of the recent price reduction by Dangote Petroleum Refinery.
According to Chinedu, Dangote Refinery has lowered the price of Premium Motor Spirit (PMS), commonly known as petrol, to N899.50 per litre. He noted that the development would help ease transportation costs for Nigerians ahead of the yuletide holidays.
“This is the beauty of deregulation; prices are now determined by market forces,” Chinedu said. “With the Dangote and Federal Government refineries operational soon, we expect competitive pricing across the market.”
Chinedu also encouraged IPMAN members to align with the new pump price to attract customers and maintain sales.
“We’ve already started placing orders at the new price, and some members have adjusted their pump prices to reflect the reduction. If your price is higher, customers will naturally go elsewhere,” he explained.
He added that fuel queues at NNPC stations have significantly reduced as independent marketers now offer competitive prices.
The News Agency of Nigeria (NAN) recalls that Dangote Refinery had previously reduced its petrol price to N970 per litre in November.
