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Petroleum products marketers in Nigeria have reduced the price of Premium Motor Spirit (PMS) following a drop in Dangote Refinery’s ex-depot price. According to Abubakar Maigandi, President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), its members have slashed PMS prices across the country.

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“Our members have reduced petrol prices on Wednesday following Dangote Refinery’s ex-depot price drop,” Maigandi said in an interview. In Northern Nigeria, including Abuja, IPMAN members now sell PMS at between N930 and N940 per litre, down from N945 and N975. In Lagos State, the price has been reduced to N890 per litre from N925

In eastern parts of Nigeria, IPMAN members sell fuel at between N950 and N960 per litre. The price reduction is in line with the Dangote Refinery’s new ex-depot price of N840 per litre, down from N880.

Some filling stations, such as Empire Energy and Raniol, have already implemented the price reduction. For instance, Raniol filling station in Gwarimpa, Abuja, now sells fuel at N955 and N945 per litre, down from N975 and N960.

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However, some other filling stations, such as MRS Filling Station and Nigerian National Petroleum Company Limited retail outlets in Abuja, have yet to adjust their prices.

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