The Independent Petroleum Marketers Association of Nigeria (IPMAN) have applauded the reduction in price for purchasing petroleum product from the Dangote Refinery, stating its significance in a competitive market.
Dangote Petroleum Refinery had on Sunday announced a reduction in the price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦970 per litre for oil marketers.
According to the company’s Chief Branding and Communications Officer, Anthony Chiejina, highlighted the reduction as a gesture of appreciation to Nigerians for their steadfast support in bringing the refinery’s vision to life.
This new price marks a ₦20 decrease from the refinery’s earlier ex-depot price of ₦990 per litre, introduced earlier this month.
“The adjustment is also our way of expressing gratitude to the government for their support, as it aligns with efforts to encourage domestic enterprise for the collective good of the nation,” the statement read.
Reacting, IPMAN President, Shettima Maigandi, told The Guardian, that the move by the refinery reflected the evolving dynamics of the industry and showed that they were operating in a competitive market, a positive development for marketers and consumers alike.
The petroleum marketers president assured Nigerians of a slash in price after getting the reduction from the refinery.
“The price cut is good information for independent petroleum marketers. Now, we have a good product that we can discharge in our filling stations and sell to the Nigerian masses. We are also going to cut our prices immediately we start taking the reduction in price of the product from Dangote refinery,” he said.
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