Petrol price drop: Dangote, IPMAN sign 60m litres weekly fuel deal

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The Independent Petroleum Marketers Association of Nigeria and Dangote Refinery have agreed to supply 60 million liters of Premium Motor Spirit each week.

This comes after IPMAN verified that fuel costs have slightly decreased at all of its member filling stations across the country.

This was revealed to ZINGTIE on Sunday by IPMAN Spokesperson Chinedu Ukadike during a briefing on the direct gasoline agreement with Dangote Refinery.

Recall that IPMAN and Dangote Refinery concluded an agreement for the direct lifting of gasoline on November 11, 2024.

The event stoked expectations of a decline in fuel prices.

Ukadike announced a new development: Dangote has committed to providing 60 million liters of fuel every week to its members.

He noted that the cost of petrol has decreased by N10 to 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.

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