The Digest:
Nigerian petrol marketers are set to reduce the price of Premium Motor Spirit (petrol) nationwide starting Monday. This anticipated cut follows Dangote Refinery's recent reduction in its ex-depot petrol price, creating Market Ripples across the downstream sector and offering potential relief to consumers.
Key Points:
- Nigerian petrol marketers plan to reduce petrol prices from Monday.
- This follows Dangote Refinery slashing its ex-depot petrol price to N820 per liter from N840.
- The Independent Petroleum Marketers Association of Nigeria (IPMAN) President, Abubakar Maigandi, confirmed the move.
- IPMAN members intend to follow Dangote Refinery's price reduction.
- IPMAN will hold a meeting on Monday to officially announce its revised petrol prices.
- As of Friday, retail outlets in Abuja sold petrol between N905 and N945 per liter.
- Dangote Refinery retail partners were already selling at N905 per liter in Abuja.
Sources: Daily Post
