Marketers Quote New Price For Petrol as IPMAN Backs Dangote Refinery’s New Rate
- Nigerian filling stations have adjusted their petrol prices to reflect the changes announced by Dangote Refinery
- The Independent Petroleum Marketers Association of Nigeria (IPMAN) said the new pricing framework will crash rates nationwide
- The 650,000bpd-capacity refinery announced a massive price cut recently, leading to nationwide reduction at the pumps
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Petrol marketers across Nigeria are adjusting pump prices following a fresh pricing framework announced by the Dangote Petroleum Refinery, a move strongly backed by the Independent Petroleum Marketers Association of Nigeria (IPMAN).
The association says the development will stabilise supply, curb scarcity fears and ease pressure on consumers over time.
Source: UGC
IPMAN disclosed that it has reached a landmark agreement with the Dangote Refinery to supply Premium Motor Spirit (PMS), also known as petrol, directly to its registered members nationwide.
IPMAN calls for nationwide patronage
The deal is expected to reshape pricing dynamics in the downstream sector as independent marketers increasingly source fuel locally rather than relying on imports.
Speaking during a press briefing, IPMAN National President, Abubakar Maigandi Shettima, urged members across the country to prioritise the Dangote Refinery when purchasing PMS.
He noted that the refinery currently offers the most competitive pricing to marketers, with additional cost savings expected once free nationwide delivery begins in January 2026.
According to Shettima, IPMAN members account for more than 80 per cent of Nigeria’s downstream PMS retail market, placing the association in a strong position to guarantee uninterrupted fuel supply.
He stressed that, with the new supply arrangement, Nigerians should not expect any supply gaps or scarcity.
“This agreement ensures that there will be no shortage of PMS across the country,” Shettima said, adding that the scale of IPMAN’s retail network gives it the capacity to keep filling stations stocked nationwide.
Free Delivery and Price Relief Ahead
A key highlight of the Dangote–IPMAN partnership is the planned introduction of free delivery of PMS to IPMAN filling stations, regardless of location.
The initiative, scheduled to commence in January 2026, is expected to significantly reduce logistics costs for marketers.
IPMAN believes these savings will translate into further reductions in pump prices at filling stations.
Shettima described the development as a major step towards making fuel more affordable for Nigerians, especially amid ongoing economic pressures.
The association also praised Aliko Dangote, Chairman of Dangote Petroleum Refinery, for what it described as consistent support for national economic stability, pointing to the refinery’s role in driving recent downward adjustments in petrol prices.
Support for federal government policies
Beyond pricing, IPMAN reaffirmed its support for the Federal Government’s oil and gas reforms, particularly policies aimed at strengthening domestic refining capacity.
Shettima credited the administration of President Bola Ahmed Tinubu for creating an enabling environment that supports local refining and market-driven pricing.
He also commended recent leadership changes at the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), describing them as necessary steps to restore confidence in the sector.
IPMAN reiterated its long-held position that continuous importation of petroleum products undermines Nigeria’s economy, drains foreign exchange and discourages investment. The association insists that deepening domestic refining remains the only sustainable path forward.
Bridging claims are still unresolved
While welcoming recent developments, IPMAN reminded regulators of outstanding bridging claims owed to its members, estimated at over N190 billion.
The association called on the new leadership of the NMDPRA to treat the issue as urgent, noting that unresolved debts continue to strain independent marketers.
Source: Getty Images
According to a report by Daily Trust, IPMAN expressed hope that with improved cooperation among stakeholders, the Dangote Refinery partnership and regulatory reforms will deliver lasting stability and fair pricing in Nigeria’s fuel market.
A prior report by Legit.ng disclosed that one of the petrol stations selling Dangote Petrol, such as MRS have implemented the new pricing regime, leading to a nationwide reduction.
New petrol prices surface in Lagos, Abuja, Kano
Legit.ng earlier reported that petrol prices have started trending downward across major Nigerian cities following a sharp reduction in the ex-depot price by the Dangote Petroleum Refinery.
Market checks show that while prices remain largely above N800 per litre, the latest adjustment has triggered renewed competition among marketers and fresh optimism among motorists.
The Dangote Refinery reduced its ex-depot price by N125 over the weekend, a move that has begun to reflect, gradually, at filling stations nationwide.
Source: Legit.ng
