₦airaland Forum

In a positive development for Nigerian consumers, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced plans to reduce fuel prices nationwide starting Monday, following a fresh cut in the ex-depot petrol price by the Dangote Refinery. Eyes Of Lagos reports,

This was confirmed by IPMAN National President, Abubakar Maigandi, in an exclusive interview with DAILY POST on Friday, July 11, 2025.


Dangote Refinery Cuts Petrol Price
The move follows a price slash by Dangote Refinery, which reduced its ex-depot price of Premium Motor Spirit (PMS) from ₦840 to ₦820 per litre. The 650,000 barrels-per-day mega refinery continues to influence market prices with its capacity and supply chain impact.

Maigandi noted that IPMAN members will mirror the refinery’s action by reviewing and reducing their fuel prices early next week.

“Whether Dangote Refinery or ex-depot petrol price, our members will also reduce. We will announce a fresh fuel price on Monday,” Maigandi stated.

Current Pump Prices in Abuja

As of Friday, retail fuel outlets in Abuja were dispensing petrol at high rates ranging between ₦905 and ₦945 per litre. Breakdown by retailer includes:

₦910/Litre at NNPC, NIPCO, AA Rano, Shema

₦905/Litre at MRS, AP Ardova, and Dangote retail partners

₦920–₦945/Litre at Ranoil, Empire Energy, and Total Emadeb

This upcoming reduction could bring much-needed relief to Nigerian motorists and transporters, who have been grappling with high fuel costs amidst broader inflationary pressures.
What This Means for Consumers

Should IPMAN implement a nationwide pump price cut, it would mark one of the first coordinated drops in fuel price since the government deregulated the downstream sector. While the Nigerian National Petroleum Company Limited (NNPCL) remains a key player, Dangote Refinery’s local refining capacity is beginning to reshape the pricing dynamics in the Nigerian fuel market.

Conclusion

The anticipated price drop is welcome news across sectors, especially for transportation, logistics, and daily commuters. All eyes will now turn to Monday’s announcement from IPMAN for official new pump prices.

helinues:
Let them reduce it first and stop the unnecessary suspense

Bentacur007:
Tell your master ..Who is them? I thought you talk to Tinubu directly.
Stop crying here about Fuel prices here

helinues:
When would some of you ever be sensitive or mature when engaging with others. Reducing the fuel prices, won't it affect every Nigerians?

How then would you have expected me to pass my message? By insulting those in charge?

yinkus6750:
They should continue reducing the price. Even at #800 the price is too high. This regime met PMS at #175 with subsidy,which they removed without proper planning. That made Dangote to now fix price of his product around what he met. We are not suppose to bear the cost of building the refinery. How can local refined product be at the same price with imported fuel ? Till another private refinery comes up,that's when the real competition will start.

eyesoflagos:
https://eyesoflagos.com/nigerian-petrol-marketers-set-to-reduce-fuel-prices-nationwide-from-monday/

Deltafirstson:
Although the pump price of fuel was N197 when President Bola Tinubu took over on May 29, 2023, the product now sells for N617 per litre – less than two months after.

In his inaugural address, Tinubu announced that subsidy was gone, fulfilling a promise that all leading presidential candidates made during the campaign.

However, pump price of fuel hit N537 per litre days after Tinubu ended subsidy.

On Tuesday, the price climbed further to N617, a development that the Nigerian National Petroleum Corporation Limited (NNPCL) attributed to “market forces”.

Nigerians have been lamenting the hardship occasioned by fuel price hike. Amid the lamentation, a video where Tinubu campaigned to slash the price of fuel went into circulation.

Checks by Daily Trust affirmed the authenticity of the video uploaded on the YouTube page of Channels Television.

At his campaign rally in Abeokuta, Ogun State capital, on January 25, 2023, Tinubu spoke on a number of issues, but those of fuel scarcity and naira redesign made the headlines.

However, Tinubu who spoke in Yoruba language, also assured the crowd that though people were saying petrol price would hit N200, it would be reviewed downward under him.

“The great Nigerian youths, the great Nigerian students, the confident Nigerian youths. This is a revolution. This election is a revolution. They are plotting, but they will fail. They said fuel price will increase and reach N200 per litre. Go and relax, we will bring it down,” he had said in the 7th minute of the video.

King Wasiu Ayinde Marshall, a Fuji musician who performed at the rally, interrupted the president’s speech with chants as the crowd cheered.

On the campaign podium with the president were Vice-President Kashim Shettima; Pa Bisi Akande, interim National Chairman of the APC; Femi Gbajabiamila, Chief of Staff to the President; Senator Gbenga Daniel; among other bigwigs of the ruling party.

Tinubu went further to say Nigerians would defy the acute fuel scarcity at the time and trek to cast their votes.

“The great Nigerian youths, the great Nigerian students, the confident Nigerian youths. This is a revolution. This election is a revolution. They are plotting, but they will fail. They said fuel price will increase and reach N200/N500 per litre. Go and relax, we will crash the prices,” he had said.

https://dailytrust.com/breaking-video-of-tinubu-campaigning-to-crash-fuel-

he had said in the 7th minute of the video.



https://www.youtube.com/watch?v=4JH8CC_JdUA

eyesoflagos:
https://eyesoflagos.com/nigerian-petrol-marketers-set-to-reduce-fuel-prices-nationwide-from-monday/

yinkus6750:
They should continue reducing the price. Even at #800 the price is too high. This regime met PMS at #175 with subsidy,which they removed without proper planning. That made Dangote to now fix price of his product around what he met. We are not suppose to bear the cost of building the refinery. How can local refined product be at the same price with imported fuel ? Till another private refinery comes up,that's when the real competition will start.

lwisee:
Make una dey use una head small small ooo

Petrol was heavily subsidized when it was N175, even your Savior Gregory cannot make fuel return to N175.

onome25:
there are some BOT humans here that support this evil party called APC🥵
They are always in every thread generating BOT likes for Thier deceptive self as if likes matters🤪
they are the paid miscreants from APC to always attact innocent nairalanders at every thread but they will fail 2027🥵
sai ADC!💪💪💪💪💪

helinues:
When would some of you ever be sensitive or mature when engaging with others. Reducing the fuel prices, won't it affect every Nigerians?

How then would you have expected me to pass my message? By insulting those in charge?

eyesoflagos:
https://eyesoflagos.com/nigerian-petrol-marketers-set-to-reduce-fuel-prices-nationwide-from-monday/

eyesoflagos:
https://eyesoflagos.com/nigerian-petrol-marketers-set-to-reduce-fuel-prices-nationwide-from-monday/

onome25:
there are some BOT humans here that support this evil party called APC🥵
They are always in every thread generating BOT likes for Thier deceptive self as if likes matters🤪
they are the paid miscreants from APC to always attact innocent nairalanders at every thread but they will fail 2027🥵
sai ADC!💪💪💪💪💪

Nahunger:
E no go pass #10 or #17.5 kobo
All this reduction wey no dey reflect for anything lol

Yimu, brother seun help me with 12 characters sir 😒