The Independent Petroleum Marketers Association of Nigeria (IPMAN) has assured Nigerians that there is no need for panic buying, emphasizing that the country has sufficient fuel supply. Speaking on Sunday in Abuja, IPMAN Publicity Secretary Mr. Ukadike Chinedu lauded the Dangote Petroleum Refinery for reducing its Premium Motor Spirit (PMS) price to N899.50k per litre, a move he said would ease transportation costs during the festive season.
Highlighting the benefits of deregulation, Chinedu noted that competitive pricing driven by market forces is now a reality. “With the Dangote and Federal Government refineries in play, Nigerians can expect better fuel prices,” he said. He called on IPMAN members to promptly adjust their pump prices to align with the new rates and attract more customers.
Chinedu revealed that many marketers had already started implementing the new pricing structure, resulting in faster sales and shorter queues at filling stations. “If your price is higher, customers will avoid you. Even queues at NNPC filling stations have reduced because most marketers now offer similar prices,” he explained.
The News Agency of Nigeria (NAN) recalls that the Dangote Refinery previously lowered its petrol price to N970 per litre in November, a move widely seen as a step toward fostering healthy competition in the petroleum sector.
