The Unbiased Petroleum Entrepreneurs Affiliation of Nigeria (IPMAN) has introduced plans to cut back the pump value of petrol nationwide starting Monday, following Dangote Refinery’s choice to decrease its ex-depot petrol value to ₦820 per litre.
The President of IPMAN, Abubakar Maigandi, disclosed this in an unique interview on Friday, revealing that the affiliation will meet on Monday to unveil a brand new pricing framework in keeping with the market pattern.
“Whether or not Dangote Refinery or ex-depot petrol value, our members will even scale back. We are going to announce a contemporary gas value on Monday,” Maigandi confirmed.
This transfer follows Dangote Refinery’s newest downward overview of its ex-depot petrol value from ₦840 to ₦820 per litre—a improvement that business stakeholders say alerts a possible broader discount in pump costs throughout the nation.
With a day by day refining capability of 650,000 barrels, the Dangote Refinery has emerged as a significant participant in Nigeria’s downstream petroleum sector, able to influencing value dynamics.
READ ALSO: Dangote Refinery Presents N10 Rebate, Lowers Efficient Petrol Value to N825
At the moment, filling stations within the Federal Capital Territory (FCT), Abuja, are dishing out petrol at various charges starting from ₦905 to ₦945 per litre.
Stores such because the Nigerian Nationwide Petroleum Firm Restricted (NNPC Ltd.), NIPCO, AA Rano, and Shema are promoting gas at ₦910 per litre, whereas MRS, AP Ardova, and different retailers affiliated with Dangote Refinery retail companions are providing gas at ₦905 per litre.
On the upper finish, Ranoil, Empire Power, and Whole Emadeb had been seen dishing out petrol at costs between ₦920 and ₦945 per litre as of Friday.
Entrepreneurs and customers alike at the moment are looking forward to Monday’s IPMAN announcement, which is anticipated to deliver reduction on the pump amid ongoing {economic} pressures and fluctuating world oil costs.