Fuel marketers across Nigeria are beginning to lower petrol prices following a recent reduction by Dangote Refinery. The Independent Petroleum Marketers Association of Nigeria (IPMAN) confirmed that its members would implement the new prices from Tuesday through next week.

IPMAN spokesperson Chinedu Ukadike told DAILY POST that Nigerians would soon start feeling the impact of the price cut at the pump. Dangote Refinery had recently reduced its gantry price by N129, bringing it down to N699 per liter from N828. Aliko Dangote suggested that retail prices should now be around N740 per liter.

Ukadike also commented on the ongoing tensions between Dangote and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), stressing that collaboration is crucial to ensuring steady fuel supply and passing on the benefits of the reduced prices to Nigerians.

A market survey in Abuja showed varying price adjustments. Bovas filling station in Wuse Zone 6 dropped its price from N910 to N865 per liter. Empire Energy and Ranoil in Gwarimpa adjusted theirs to N912 and N910 per liter, while NIPCO and AA Rano stations listed prices between N905 and N915 per liter. MRS stations maintained N910 per liter, though further reductions are expected starting Tuesday.