The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged Nigerians to avoid panic buying, assuring that there is sufficient fuel in the country.
Speaking on Sunday in Abuja, Mr. Ukadike Chinedu, IPMAN’s Publicity Secretary, commended the Dangote Petroleum Refinery for reducing the price of Premium Motor Spirit (PMS), also known as petrol, to ₦899.50 per litre.
He noted that the price reduction would help ease transportation costs for Nigerians ahead of the festive season.
“This is the beauty of deregulation—prices are determined by market forces,” Chinedu said. “With the Dangote and Federal Government refineries coming into play, we will see more competitive pricing.”
Chinedu urged IPMAN members to adjust their pump prices to reflect the new rate and attract more customers.
“We have already started placing orders at the new price, and some of our members have begun adjusting their pumps to lower prices for faster sales. If your price is higher, customers will go elsewhere,” he said.
He added that the queues commonly seen at NNPC filling stations have significantly reduced as most marketers now sell at competitive rates.
The News Agency of Nigeria (NAN) recalls that the Dangote Refinery previously reduced its petrol price to ₦970 per litre in November.
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