The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced plans to reduce the pump price of Premium Motor Spirit (PMS) also known as petrol from Monday, following a price cut by Dangote Refinery.
Speaking on Friday, IPMAN’s National President, Abubakar Maigandi, confirmed the development in an interview.
According to Maigandi, Dangote Refinery has slashed its ex-depot price from ₦840 to ₦820 per litre—a move that has prompted IPMAN to consider lowering retail prices at filling stations nationwide.
He noted that the association is keen to reflect the refinery’s reduction in pump prices to provide relief for consumers and support wider market stability.
“Whether Dangote Refinery or ex-depot petrol price, our members will also reduce. We will announce a fresh fuel price on Monday,” he said.
At present, petrol is being sold in Abuja at prices ranging between ₦905 and ₦945 per litre. Major retail outlets such as NNPC, NIPCO, AA Rano, and Shema are dispensing fuel at ₦910, while stations linked to Dangote—like AP Ardova and MRS—offer slightly lower prices at ₦905. Meanwhile, other marketers including Ranoil, Empire Energy, and Total Emadeb are charging as much as ₦945 per litre.
The proposed pump price reduction could bring a measure of relief to Nigerians grappling with soaring living costs, following the removal of fuel subsidies and ongoing fluctuations in exchange rates.
IPMAN’s decision is viewed as part of a growing ripple effect stemming from Dangote’s expanding influence in the downstream oil sector, underpinned by its 650,000 barrels-per-day refinery, which began supplying the domestic market earlier this year.
