Fuel Prices to Crash Nationwide — IPMAN
According to a report by PM News Nigeria on Friday, July 11, 2025, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has revealed plans to implement a downward review in the retail price of Premium Motor Spirit (PMS), commonly known as petrol, starting from Monday, July 15, 2025. This development follows Dangote Refinery’s recent decision to reduce its ex-depot price from ₦840 to ₦820 per litre.
IPMAN’s National President, Alhaji Abubakar Maigandi, confirmed the move during an interview on Friday. He stated that members of the association, who purchase petroleum products directly from depots, are preparing to reflect the new pricing at their various retail outlets nationwide.
“Following the reduction in ex-depot price by Dangote Refinery, our members have resolved to cut down the pump price as well. A formal announcement will be made on Monday,” Maigandi disclosed.
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Currently, fuel prices across Abuja range from ₦905 to ₦945 per litre, depending on the retail outlet. For instance, major stations such as NNPC, NIPCO, AA Rano, and Shema are dispensing PMS at ₦910 per litre, while AP Ardova and MRS which are affiliated with Dangote are offering it at ₦905 per litre. Other independent marketers, including Ranoil, Empire Energy, and Total Emadeb, are retailing petrol at higher prices of up to ₦945 perl itre.
The anticipated price cut is expected to bring some relief to consumers, especially as Nigerians continue to grapple with rising living costs following the complete removal of fuel subsidies and the persistent volatility in exchange rates. The reduction could help ease pressure on transportation, food distribution, and other logistics-dependent sectors.
This initiative also signals a growing shift in the dynamics of Nigeria’s downstream petroleum sector, with Dangote Refinery playing an increasingly significant role. The 650,000 barrels-per-day facility, which began local fuel distribution earlier this year, has been gradually influencing market pricing, giving local marketers a more competitive alternative to imported refined products.
