Connect with us

Business

Dangote Refinery’s New Deal with IPMAN to Lower Petrol Price by N50 per Litre

Published

on

Photo source: Google

The Independent Petroleum Marketers Association of Nigeria (IPMAN) recently revealed that Premium Motor Spirit (petrol) will become more affordable for Nigerians, with a planned price reduction of N50 per liter.

This announcement came from IPMAN’s National President, Abubakar Maigandi, during a Tuesday interview with Channels Television.

Maigandi disclosed that the price cut follows a recent agreement between IPMAN and Dangote Refinery, which will now directly supply petrol to IPMAN members at a lower rate.

Under the new agreement, Dangote Refinery will sell petrol to IPMAN members at N940 per liter for depot purchases and N990 per liter for trucks.

With these adjusted rates, independent marketers who have been selling petrol for as high as N1,200 per liter in locations like Maiduguri will now be able to drop their prices to around N1,150 or potentially even lower.

Advertisement

Maigandi mentioned that the adjustment depends on location, as transport and logistics costs can vary, but he expects to see the benefits reach customers soon.

Maigandi also shared some insight into the new purchasing arrangements.

IPMAN members have two main options: they can either transport fuel directly from the Dangote Refinery to their depots or purchase it directly for trucks.

These measures are expected to streamline the distribution process, reducing dependence on the Nigerian National Petroleum Company Limited (NNPCL) as the primary distributor of Dangote’s petrol.

Currently, Nigerians are paying between N1,060 and N1,200 per liter at NNPCL outlets and other stations, so the new pricing arrangement with IPMAN is a welcome move for the average consumer facing high fuel costs.

Advertisement

 

Business

UAC of Nigeria Acquires Chivita and Hollandia, Promises to Uphold Chi’s Legacy

Published

on


It has been reported that Coca-Cola Company has agreed to sell off Chivita and Hollandia to UAC of Nigeria.

This information was revealed after UAC of Nigeria released a statement regarding their deal with Coca-Cola. The Managing Director stated that they aim to keep Chi’s legacy and described the deal as an ‘acquisition that presents significant potential to build on Chi’s legacy of excellence and innovation.’

“We see a bright future for Chivita and Hollandia. With the strength of our team, coupled with the dedication of UAC, there will be exciting opportunities for further growth.”


 

Advertisement
Continue Reading

Business

IPMAN to Reduce Fuel Prices After Dangote Refinery’s Petrol Price Drop

Published

on

Photo source: Google

The Independent Petroleum Marketers Association of Nigeria (IPMAN) says it will announce a new, lower petrol price on Monday, following the recent price slash by Dangote Refinery. Dangote Refinery had dropped its ex-depot price for petrol from N840 to N820 per litre on Thursday, prompting IPMAN to consider adjusting its rates in response.

Speaking on the development, IPMAN President, Abubakar Maigandi, said the association is aligning with the move and will meet to finalize a fresh price cut for petrol. “Our members will also reduce their prices,” Maigandi said. “We’ll make an official announcement on the new fuel price after our meeting on Monday.”

As of Friday, filling stations across Abuja were selling petrol at varying prices, between N905 and N945 per litre. While NNPC, NIPCO, AA Rano, and Shema outlets were dispensing around N910, Dangote-linked stations like AP and Ardova offered it slightly lower at N905. Others, including Ranoil, Empire Energy, and Total Emadeb, were selling at the higher end, up to N945.


 

Continue Reading

Business

Cooking Gas Price Increases by 2.18% as Nigerians Pay More to Refill

Published

on

Photo source: Google

The cost of refilling a 12.5kg cylinder of cooking gas in Nigeria went up slightly in May 2025, rising by 2.18% compared to the previous month. The average price now stands at N20,709.11, up from N20,268.06 recorded in April. This update was captured in the latest Liquefied Petroleum Gas (LPG) Price Watch report for May, released by the National Bureau of Statistics (NBS).

According to the report, Delta State topped the list with the highest refill price at N23,356.56, followed by Abia at N22,953.01, and Ebonyi at N22,943.30. On the other hand, residents in Yobe, Lagos, and Kebbi states paid the least, with refill prices of N18,500, N18,536, and N18,606.60, respectively.

When compared to the same period last year, gas prices have jumped significantly, rising by 32% from N15,627.40 recorded in May 2024 to the current average. The NBS is yet to release figures for June 2025.


 

Continue Reading

Trending