The National Secretary of the Independent Petroleum Marketers Association of Nigeria, James Tor, disclosed this in an interview.
His statement comes after IPMAN National President, Abubakar Maigandi, announced that Dangote Refinery has agreed to sell petrol directly to its members.
The agreement between IPMAN and the 650,000 barrels per day Dangote Refinery brings an end to the middleman posture played by the Nigerian National Petroleum Company Limited on the inaugural lifting of Dangote Petrol on September 16, 2024.
Similarly, reports say the direct sale agreement means that petrol marketers have dumped imported fuel for Dangote petrol.
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Speaking on the impact of the direct purchase agreement between IPMAN and Dangote Refinery, Tor explained that Nigerians will experience a drastic reduction in the price of petrol and a boost in the products’ availability nationwide.
According to him, the agreement would make the pump price of petrol at Independent marketers’ retail outlets drop below N1,150 per litre.