Petrol price seen at N800 as marketers sign new deal with Dangote - Businessday NG

…FG insists reduction in crude oil prices must reflect in retail markets

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has hinted on possible reduction in the retail prices of petrol across the country, following a direct purchase agreement with the Dangote Petroleum Refinery.

Abubakar Maigandi Shettima, National President of IPMAN, disclosed this in Abuja on monday, commending the decision of Dangote refinery to sell directly to the independent marketers.

He said, “Reducing the price depends on the way we buy the product from the private depot owners and Dangote refinery. And I thank God now, Dangote refinery has accepted the independent petroleum marketers to start purchasing their product directly. So, it’s a plus.

“At any time when there is a reduction of price, we are ready to reduce the price to even below N800, not even N900.”