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PETROL MARKETERS SET TO REDUCE FUEL PRICES NATIONWIDE FROM MONDAY
In a positive development for Nigerian consumers, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced plans to reduce fuel prices nationwide starting Monday, following a fresh cut in the ex-depot petrol price by the Dangote Refinery. Eyes Of Lagos reports,
This was confirmed by IPMAN National President, Abubakar Maigandi, in an exclusive interview with DAILY POST on Friday, July 11, 2025.
Dangote Refinery Cuts Petrol Price
The move follows a price slash by Dangote Refinery, which reduced its ex-depot price of Premium Motor Spirit (PMS) from ₦840 to ₦820 per litre. The 650,000 barrels-per-day mega refinery continues to influence market prices with its capacity and supply chain impact.
Maigandi noted that IPMAN members will mirror the refinery’s action by reviewing and reducing their fuel prices early next week.
“Whether Dangote Refinery or ex-depot petrol price, our members will also reduce. We will announce a fresh fuel price on Monday,” Maigandi stated.
Current Pump Prices in Abuja
As of Friday, retail fuel outlets in Abuja were dispensing petrol at high rates ranging between ₦905 and ₦945 per litre. Breakdown by retailer includes:
₦910/Litre at NNPC, NIPCO, AA Rano, Shema
₦905/Litre at MRS, AP Ardova, and Dangote retail partners
₦920–₦945/Litre at Ranoil, Empire Energy, and Total Emadeb
This upcoming reduction could bring much-needed relief to Nigerian motorists and transporters, who have been grappling with high fuel costs amidst broader inflationary pressures.
What This Means for Consumers
Should IPMAN implement a nationwide pump price cut, it would mark one of the first coordinated drops in fuel price since the government deregulated the downstream sector. While the Nigerian National Petroleum Company Limited (NNPCL) remains a key player, Dangote Refinery’s local refining capacity is beginning to reshape the pricing dynamics in the Nigerian fuel market.
Conclusion
The anticipated price drop is welcome news across sectors, especially for transportation, logistics, and daily commuters. All eyes will now turn to Monday’s announcement from IPMAN for official new pump prices.
