PETROL PRICE DROP: DANGOTE, IPMAN SIGN 60M LITRES WEEKLY FUEL DEAL

November 18, 2024November 18, 2024

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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 by IPMAN Spokesperson Chinedu Ukadike on Sunday during a briefing on the direct gasoline agreement with Dangote Refinery.

Remember how IPMAN declared on November 11, 2024, that it had achieved a direct-lift agreement with Dangote Refinery?

Hopefully, the development would lead to a decrease in fuel prices.

Ukadike reported that Dangote had committed to providing 60 million liters of fuel every week to its members, which was a new development.

Due to the agreement it reached with Dangote Refinery, he observed that gas prices had decreased by N10 to N50 at filling stations.

“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.