Petrol Price Set to Drop Monday As IPMAN Backs Dangote’s ₦820 Cut

Saturday July 12, 2025
By TheNewsDESK |

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced plans to reduce the pump price of petrol nationwide beginning Monday, following Dangote Refinery’s decision to lower its ex-depot petrol price to ₦820 per litre.

The President of IPMAN, Abubakar Maigandi, disclosed this in an exclusive interview on Friday, revealing that the association will meet on Monday to unveil a new pricing framework in line with the market trend.

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

This move follows Dangote Refinery’s latest downward review of its ex-depot petrol price from ₦840 to ₦820 per litre—a development that industry stakeholders say signals a potential broader reduction in pump prices across the country.

With a daily refining capacity of 650,000 barrels, the Dangote Refinery has emerged as a major player in Nigeria’s downstream petroleum sector, capable of influencing price dynamics.

Currently, filling stations in the Federal Capital Territory (FCT), Abuja, are dispensing petrol at varying rates ranging from ₦905 to ₦945 per litre.

Retail outlets such as the Nigerian National Petroleum Company Limited (NNPC Ltd.), NIPCO, AA Rano, and Shema are selling fuel at ₦910 per litre, while MRS, AP Ardova, and other outlets affiliated with Dangote Refinery retail partners are offering fuel at ₦905 per litre.

On the higher end, Ranoil, Empire Energy, and Total Emadeb were seen dispensing petrol at prices between ₦920 and ₦945 per litre as of Friday.

Marketers and consumers alike are now looking ahead to Monday’s IPMAN announcement, which is expected to bring relief at the pump amid ongoing economic pressures and fluctuating global oil prices.

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