Nigerian Marketers Resist Lowering Petrol Prices Below Dangote Refinery's Rate

Nigerian marketers are resisting calls to lower petrol prices below Dangote Refinery's benchmark price of N739 per liter, even after the refinery reduced its price from N900 to N739 in December. Factors such as high transport costs, security concerns, and storage expenses contribute to the price gap.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) remains optimistic that prices will gradually decline as supply from Dangote Refinery improves. IPMAN's national president, Abubakar Maigandi Shettima, supports Dangote Refinery's efforts to stabilize distribution and protect consumers from excessive prices.