Petroleum products marketers in Nigeria have hinted that they are on track to losing billions of naira following the ex-depot premium motor spirit price reduction announced by Dangote Refinery on Wednesday.
Nigerian petroleum marketers anticipate massive financial losses after Dangote Refinery reduced its ex-depot petrol price by N30 to N835 per litre—the second cut in eight days. IPMAN spokesperson Chinedu Ukadike confirmed the impact to DAILY POST, noting the move follows the renewed Naira-for-crude deal with the federal government.
Dangote Group’s Anthony Chiejiena announced retail prices will now range N890–N920 nationwide, stating: “This reduction…benefits consumers.” Partners like MRS and Ardova will adjust pumps, with Lagos prices falling to N890 from N920. The refinery projects the cuts will ease inflationary pressures during Easter.
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