In a significant relief for Nigerians, fuel marketers across the country have reduced the pump price of Premium Motor Spirit (PMS), popularly known as petrol, following a cut in ex-depot prices by the Dangote Refinery.
The President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, confirmed the development in an exclusive interview with Naija Blog Daily on Wednesday.
🔻 Fuel Prices Drop Nationwide
According to Maigandi, petrol prices have been reduced across several regions as follows:
Northern Nigeria (including Abuja):
Prices now range between ₦930 and ₦940 per litre, down from ₦945–₦975
Lagos State:
Marketers now dispense petrol at ₦890 per litre, compared to the previous ₦925
Eastern Nigeria:
Fuel prices now fall between ₦950 and ₦960 per litre
- “Our members reduced petrol prices on Wednesday following Dangote Refinery’s ex-depot price drop,” — Abubakar Maigandi, IPMAN President
🛢 Dangote Refinery Cuts Ex-Depot Price to ₦840
This price slash comes just days after the Dangote Petroleum Refinery announced a reduction in its ex-depot price of PMS from ₦880 to ₦840 per litre on Monday, prompting independent marketers to adjust their pump prices downward in response.
📍 Abuja Filling Stations React
Naija Blog Daily observed that some filling stations in Abuja have already adjusted their prices:
- Empire Energy now sells at ₦955 per litre
- Raniol Filling Station, Gwarimpa reduced to ₦945, down from ₦975 and ₦960 earlier this week
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However, petrol prices remain unchanged at MRS Filling Station and NNPC Retail Outlets in the capital city at the time of filing this report.
💬 What This Means for Nigerians
The new wave of reductions brings slight relief to Nigerians grappling with the rising cost of living. While the price drop is still modest, industry experts say it could signal a gradual market response to Dangote’s increased supply and pricing strategy.
Stay tuned to Naija Blog Daily for the latest updates on fuel prices, economic trends, and nationwide developments.
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