IPMAN plans petrol price review in Abuja

Petrol stations across Nigeria’s Federal Capital Territory are preparing to review their pump prices, but marketers say they cannot yet give a firm date. The Independent Petroleum Marketers Association of Nigeria said the changes would begin as new petrol products arrive in the market.

IPMAN National Publicity Secretary Chinedu Ukadike said marketers were preparing to revise both prices and sales strategies. “Once the new products begin arriving, marketers are expected to respond quickly by reviewing their prices and updating their product offerings,” he said.

He added that purchases could begin within days, depending on when the process officially starts. Marketers intend to make the new products available to consumers and adjust prices in line with existing rules and regulations.

“

Once the new products begin arriving, marketers are expected to respond quickly by reviewing their prices and updating their product offerings.

The planned review follows a series of increases by Dangote Refinery in its gantry, or ex-depot, price. The price rose from 1,165 naira per litre to 1,185, 1,200 and 1,265 naira within the past week, according to the News Agency of Nigeria. Those increases have already appeared in pump prices at filling stations across the FCT.

Many motorists have expressed concern about the rising cost of petrol and called on the Federal Government to intervene by stabilising prices.

“

After this process, when we make purchases tomorrow or the day after tomorrow, as soon as it starts, we will adjust our prices and begin making the new products available to consumers.