The Independent Petroleum Marketers Association of Nigeria (IPMAN) has confirmed that petrol prices will reduce to N935 per litre from today, following a new pricing structure introduced by Dangote Refinery.

According to IPMAN’s National President, Alhaji Garima, the refinery’s decision to lower its ex-depot price from N970 to N899.50 per litre, a 7.27% reduction, is a welcome development. He added that the move includes credit arrangements for marketers, ensuring a uniform pump price nationwide.

“This reduction will greatly benefit Nigerians, as marketers can now sell petrol at a consistent and more affordable price of N935 per litre,” Garima told the News Agency of Nigeria (NAN) in Abuja.

The Dangote Refinery’s initiative is expected to ease the financial burden on marketers and consumers while addressing price disparities across the country.