IPMAN eyes petrol price reduction
IPMAN eyes petrol price reduction
By Fly Cable News
The Independent Petroleum Marketers Association of Nigeria has sought a reduction in the price of petrol across the country.
The group urged the Dangote refinery to consider reducing its ex-depot price from N970 per litre since the estimated cost of landing petrol on Nigeria’s shores has dropped to N900.28 per litre.
President Bola Tinubu had during a Federal Executive Council meeting on July 29 proposed the sale of crude to local refineries in naira.
The FEC adopted the proposal by Tinubu to sell crude to Dangote and other refineries in the local currency.
FEC approved that the 450,000 barrels meant for domestic consumption be offered in naira to Nigerian refineries, using the Dangote refinery as a pilot.
It also approved an initial six-month trial period pending further review by the Technical Sub-Committee on Domestic Sales of Crude Oil in Local Currency.
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