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- Oil marketers person alerted importers to the anticipation of further terms slashes by Dangote Refinery and different apical players
- They asked their members to beryllium cautious successful their purchases truthful arsenic not to incur debts pursuing the slash successful petrol prices
- The improvement came arsenic SGR lowered its petrol prices to N899 per litre, N16 little than Dangote Refinery spouse station, Heyden
Legit.ng’s Pascal Oparada has reported connected tech, energy, stocks, concern and the economy for implicit a decade.
Following the return of the naira-for-crude woody ordered by the Nigerian government, the Independent Petroleum Marketers Association of Nigeria (IPAMN) has warned lipid dealers and importers against losses that whitethorn effect from further terms cuts.
The improvement comes arsenic different autarkic marketer, SGR, crashed petrol prices to N899 per litre astatine its filling stations.
Source: UGC
IPMAN predicts further terms cuts
IPMAN’s nationalist vice president, Hammed Fashola, asked marketers and importers to beryllium cautious portion purchasing petroleum products due to the fact that Dangote Refinery and different players could slash prices further.
Legit.ng earlier reported that the mega refinery had slashed petrol prices to N865 per litre soon aft the Nigerian authorities ordered the instrumentality of the naira-for-crude deal.
Analysts person attributed the latest terms clang to the driblet successful planetary crude lipid prices.
Dangote notifies marketers of caller petrol prices
According to reports, notices to marketers by the Lekki-based refinery amusement that its PMS volition present beryllium sold astatine N865 per litre, including charges by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The Dangote Refinery said that different products are inactive sold successful dollars, portion PMS income via coastal vessels are connected hold.
The improvement has led to petrol stations adjusting their pump prices downward.
More filling stations slash prices
According to Punch reporting, astir 4 SGR filling stations person dropped their petrol prices to N899 per litre, the cheapest on the Lagos-Ibadan Expressway and Sagamu-Ijebu Ode axis.
The existent terms is N16 beneath Dangote Refinery’s spouse filling station, Heyden.
Most of the petrol stations successful Lagos and Ogun State person besides reduced their prices from implicit N940 to N930 oregon N920 per litre.
Heyden reduced its pump prices to N915 to bespeak the flimsy simplification successful ex-depot prices.
Legit.ng besides reported that since December past year, the mega refinery has remained a ascendant subordinate successful the petroleum downstream sector, changing prices successful enactment with marketplace dynamics.
Marketers refute claims of monopoly by Dangote
Reports accidental the refinery has breached the monopoly antecedently enjoyed by the Nigerian National Petroleum Company Limited (NNPC), which was the sole importer of petroleum products.
However, Fashola warned marketers and importers to beryllium wary to debar incurring losses and debts erstwhile the large players slash prices.
He said it would beryllium bully for consumers if Dangote and others lowered the prices of fuel, refuting claims that Dangote Refinery is dictating marketplace prices.
Source: Getty Images
He urged different industry players not to reason the naira-for-crude woody implicit the perceived vantage to Dangote Refinery.
NNPC releases caller petrol terms list
Legit.ng earlier reported that aft a agelong delay, the Nigerian National Petroleum Company Limited (NNPC) has accrued the pump price of petrol to N925 per litre astatine its retail stations successful Lagos and N950 successful Abuja.
The caller prices became effectual April 2, 2025, representing an summation of N65 from N860 per litre successful Lagos and an summation of N70 supra the erstwhile N880 per litre successful the North.
MRS and different autarkic petrol dealers had already hiked their petrol prices to N930 per litre successful Lagos and N960 successful the North. Read more: https://www.legit.ng/business-economy/energy/1648295-nnpc-releases-petrol-price-list-lagos-abuja-states/
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Source: Legit.ng
