Nigeria’s Independent Petroleum Marketers Association (IPMAN) has announced that a meeting with Dangote Refinery is scheduled for Tuesday and Wednesday to discuss fuel distribution and pricing. This was disclosed by IPMAN spokesperson, Chinedu Ukadike, during an interview with Arise TV on Sunday.
Ukadike expressed optimism that increased actions regarding fuel distribution would lead to a drop in petrol prices for Nigerians. "We hope to sit down with Dangote, maybe on Tuesday or Wednesday, and if they provide us with a template or pricing structure, the more we act on distribution, the more the price will drop," he said. He also emphasized that the marketers are prepared to face competition in the sector.
This development follows the Nigerian government's recent confirmation that oil marketers can now purchase petrol directly from Dangote Refinery. Previously, the Nigerian National Petroleum Company Limited (NNPCL) had been the sole buyer. The announcement was made by the Minister of Finance and Chairman of the Naira-Crude Sale Implementation Committee, Wale Edun, last Friday.
In a related move, NNPCL increased the petrol pump price at its retail outlets in Abuja to N1,030 per liter, following an earlier hike from N617 to N879 per liter in September 2024.
The ongoing discussions are expected to impact fuel pricing in the coming weeks, with hopes for a reduction in costs for consumers.
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