Dangote Refinery, IPMAN Strike 60m Litre Weekly Fuel Deal

Dangote Refinery has partnered with the Independent Petroleum Marketers Association of Nigeria (IPMAN) to supply 60 million liters of Premium Motor Spirit (PMS) weekly.

This agreement, announced on November 18, 2024, is expected to bring about a noticeable reduction in fuel prices across the country.

Chinedu Ukadike, the spokesperson for IPMAN, confirmed the deal, stating, "Dangote has offered to give us over 60 million litres depending on our patronage.

The 60 million litres is to be given weekly, and we can take and distribute it across the country once we start lifting the product from the refinery."

The collaboration has already led to a decrease in petrol prices by N10 to N50 at IPMAN member filling stations.

This price drop is attributed to increased competition and ongoing deregulation within the oil and gas sector.

Ukadike noted, "It is obvious now that the prices of the products have crashed. You would have noticed the drop in prices by N10, N15, sometimes N50 or so, and this is due to competition and deregulation in the oil and gas sector."