Petroleum marketers in Nigeria have confirmed ongoing negotiations with Dangote Refinery regarding the direct purchase of petrol, which could result in new fuel prices soon. The Independent Petroleum Marketers Association of Nigeria (IPMAN) has expressed optimism that lifting Dangote-produced petrol directly will reduce fuel prices, which are currently between N950 and N1,100 per litre. Dangote Refinery had previously revealed that its petrol would be about 15% cheaper than imported alternatives, a significant relief for Nigerians facing high fuel costs.
The Nigerian National Petroleum Company (NNPC) remains the sole distributor of Dangote’s petrol for now, but discussions are in place to expand distribution to other marketers, potentially stabilizing or reducing prices. Further updates are expected soon as both Dangote Refinery and marketers continue their negotiations.
