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The Digest:

A reduction in the price of Premium Motor Spirit (petrol) is expected across Nigeria in the coming days, following the resumption of loading activities at the Dangote Refinery. According to Daily Post, the Independent Petroleum Marketers Association of Nigeria confirmed its members have begun loading at a new rate of N877 per litre, a development anticipated to ease recent supply shortages and lower costs for consumers.

Key Points:
  • Petroleum marketers have resumed loading PMS at the Dangote Refinery.
  • The current loading price is N877 per litre, up from the previous N820.
  • IPMAN President Abubakar Maigandi anticipates a price drop due to improved supply.
  • PETROAN President Billy Gillis-Harry confirmed increased availability will enhance affordability.
  • Major filling stations including MRS and Optima have resumed fuel dispensing.
  • Prices had recently risen to between N940-N965 per litre in Abuja due to supply issues.
  • Dangote Refinery has scheduled over 310 million litres of PMS for loading.
While the immediate loading price has increased, market forces from enhanced supply are expected to drive down retail prices, offering relief to consumers.

Sources: Daily Post Nigeria