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PETROL PRICE DROPS: DANGOTE, IPMAN SIGN 60M LITRES WEEKLY FUEL DEAL
Dangote Refinery and the Independent Petroleum Marketers Association of Nigeria have signed a 60 million-litre weekly Premium Motor Spirit supply deal.
This comes as IPMAN confirmed that fuel prices have marginally reduced across its member filling stations nationwide.
The Spokesperson of IPMAN, Chinedu Ukadike, disclosed this on Sunday while giving an update on the direct petrol deal with Dangote Refinery.
Recall that on November 11, 2024, IPMAN announced that it had reached an agreement with Dangote Refinery to lift petrol directly.
The development raised hopes of a fuel price drop.
In a fresh development, Ukadike stated that Dangote had agreed to supply its members with 60 million litres of fuel weekly.
He noted that petrol prices had dropped by between N10 and N50 across filling stations due to the deal it secured with Dangote Refinery.
“While the discussion is still ongoing, Dangote has offered to give us over 60 million litres depending on our patronage.
“The 60 million litres is to be given weekly. And we can take and distribute it across the country once we start lifting the product from the refinery.
“It is obvious now that the prices of the products have crashed. You would have noticed the drop in prices by N10, N15, something N50 or so, and this is due to competition and deregulation in the oil and gas sector,” he stated.
