Breaking: IPMAN Forces Dangote to Reveal Fuel Price
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has successfully compelled Dangote Refinery to disclose its official pump price for petrol. This development comes after a period of uncertainty and speculation regarding the pricing of fuel from the newly commissioned refinery.
Dangote Refinery, in response to claims by IPMAN, PETROAN, and other associations on the price of PMS imported into the country, has finally revealed the price of PMS from its refinery in Lagos, saying it sells at N960 per litre for sale into ships and N990 per litre for sale into trucks.
According to the company, these prices are benchmarked against international prices, competitive relative to the price of imports and even cheaper than the N971 per litre for sale into ships and at N990 for sale into trucks the NNPC set as PMS price to domestic marketers.
It further added that if any marketer claims to be importing PMS cheaper than its price of N950 and N990, respectively, then they are importing substandard products and conniving with international traders to dump low-quality products into the country.
IPMAN, a significant player in the Nigerian petroleum sector, had been vocal about the need for transparency in fuel pricing. The association argued that the lack of clarity from Dangote Refinery was causing confusion among consumers and marketers alike.
By publicly stating its price, Dangote Refinery has provided much-needed clarity to the market. This move is expected to stabilize fuel prices and alleviate concerns about potential price hikes.
