The Independent Petroleum Marketers Association of Nigeria (IPMAN) has reassured Nigerians of sufficient fuel supply across the country, urging citizens to avoid panic buying. The association emphasized that there is no need for concern, as fuel is readily available to meet the demand.
IPMAN’s Publicity Secretary, made the statement on Sunday in Abuja, calling on consumers to trust the current fuel supply situation and avoid creating unnecessary shortages.
Chinedu also praised the Dangote Petroleum Refinery for its recent decision to lower the price of Premium Motor Spirit (PMS), commonly known as petrol, to N899.50 per litre. This price reduction is expected to ease transportation costs for Nigerians, especially as the country approaches the Yuletide season.
“This is the beauty of deregulation. Prices are determined by market forces,” Chinedu said. He highlighted that with the Dangote Refinery and the Federal Government refineries soon operational, the market would see more competitive pricing for petrol.
IPMAN members have already begun adjusting their pumps to reflect the new price, which Chinedu believes will attract more customers and further reduce long queues at filling stations. “We have started ordering based on the new price, and some of our members have already begun lowering their prices to boost sales,” he added.
He further noted that the long queues previously seen at NNPC filling stations have reduced as marketers align their prices with the new competitive rates, benefiting consumers nationwide.
In November, the Dangote Refinery had previously set its petrol price at N970 per litre, marking a significant price drop in the market. With this continued price adjustment, Chinedu expressed confidence that the price competition would positively impact Nigerians, especially during the festive season.
IPMAN’s call to avoid panic buying is expected to help stabilize the market and ensure steady fuel distribution across the country.
