The Independent Petroleum Marketers Associations of Nigeria (IPMAN) has said that Nigerians will enjoy further reductions in the prices of petroleum products, especially fuel even next year. The National Public Relations Officer, IPMAN, Chinedu Ukadike gave the assurance in an interview with New Telegraph yesterday.
He described the current reduction of fuel prices in the country as a scramble for customers by the Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPC Ltd). Ukadike said:
“The price war which has led to the reduction of prices of petro- leum products, especially fuel, is the beauty of deregulation. Now that we have two sources of petroleum prod- ucts: Dangote and NNPC Ltd. There is a scramble for marketers to patronise them.
The more Dangote is producing more volume, the more he will want to enter into partnerships, especially with IP- MAN and other stakeholders, to ensure that he evacuates his products. So the deal with MRS is to ensure that petroleum products get to the final consumers at that price. That deal is a Christmas bonanza from Dangote at N935. “The product price will continue to go down.
There will be further price reductions as the war against a sole producer is on.” Reports have it that in Lagos as of Monday, December 23, many NNPC Ltd petrol outlets sold petrol at N925/L in Lagos and N965/L in Abuja. Recall that on November 24, 2024; Dangote had reduced fuel prices from N990/L to N970/L to marketers.
Group Chief Branding and Communications Officer, Dangote Industries Limited (DIL), Anthony Chiejina, while announcing the price reduction in a statement attributed the gesture the group’s appreciation of Nigerians and support to the government.
Last Thursday, Chiejina, announced another petrol price reduction to N899.50k, which he termed ‘holiday bonanza’. He further said the company also introduced a special offer to further benefit consumers.
He stated that in addition to the holiday discount, Dangote Petroleum Refinery was allowing consumers to purchase an additional litre of fuel on credit for every litre bought on a cash basis.
“To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on PMS. From today, our
