DAILY POST
The Independent Petroleum Marketers Association of Nigeria, IPMAN, has announced that the pump price of petrol will reduce to N935 per litre by Monday.
The development, according to IPMAN, follows the marketers’ new deal with Dangote Refinery.
IPMAN National President, Alhaji Maigandi Garima, who made this known on Sunday in Abuja, commended the Dangote refinery for the development.
According to him, 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.
DAILY POST recalls that Dangote Refinery recently announced a reduction in fuel price by 7.27 per cent from N970 per litre to N899.50 per litre at its loading gantry and provided generous credit terms to marketers.
In a bid to ensure that the price reduction gets to the consumers, Dangote Refinery signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935.
The price reduction which is designed to alleviate transport cost during the festive period and beyond, has already commenced in Lagos, and will be applicable nationwide from Monday.
“Dangote Refinery has brought another new arrangement of loading and pricing by which marketers would pay a fixed ex-depot price of N899. 50k.
“The refinery is running a programme whereby it wants the fuel consumption across the country to be at the same rate. We are expecting the new arrangement to kick-start on Monday.
READ THE FULL STORY IN DAILY POST
Connect with us on our socials: