Jubilation as IPMAN announce new PMS price

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced plans to lower the price of Premium Motor Spirit (PMS) by N50 per liter, contingent upon direct supply from Dangote Refinery.

Abubakar Maigandi, IPMAN President, disclosed this during an interview with Channels Television on Tuesday.

Maigandi revealed that Dangote Refinery has agreed to supply petrol to IPMAN members at a price template of N940 per liter for depots and N990 per liter for truck sales.

“Presently, we have been given two different arrangements on how to buy fuel from the refinery.

“There is the one that we can load the vessels and carry to our various depots at the rate of N940 per litre. Then for the depots, it is at the rate of N990 per litre.

“For instance, the current price in Maiduguri now is N1,200 per litre. So with these current changes, it may likely reduce to N1,150, which is a reduction of N50. So that’s N1,150. It may even be below that”, he stated.

Recall that on Monday, IPMAN announced that Dangote Refinery agreed to sell petrol to its members directly, which brought an end to Nigerian National Petroleum Company, which is the sole buyer of Dangote Petrol.

The development comes after Dangote Refinery announced that its gasoline is sold at N960 and N990 per litre for ships and trucks.

Meanwhile, Nigerians currently buy petrol between N1,060 and N1,200 at NNPCL retail outlets and other filling stations.