IPMAN Clarifies NNPC Fuel Pricing Amid Conflicting Reports.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has officially stated that the price of premium motor spirit (PMS) from the Nigerian National Petroleum Company Limited (NNPCL) has not experienced any reduction. Chinedu Ukadike, the spokesperson for IPMAN, provided this clarification in an exclusive interview with DAILY POST on Monday.

Despite circulating reports indicating that NNPCL has lowered its retail fuel pump price to N860 per litre from previous rates of N940 and N965 in Lagos and the Federal Capital Territory, Ukadike emphasized that the ex-depot price remains unchanged at N940 per litre. He noted that such price adjustments are typically reflected on NNPC’s portal for petrol marketers, but as of the time of reporting, no such changes were evident.

Efforts to obtain confirmation from NNPC’s spokesperson regarding the alleged price reduction yielded no definitive response, as the spokesperson neither confirmed nor denied the claims. Furthermore, a review of the NNPC’s X account revealed no announcements pertaining to any adjustments in fuel pricing.

In contrast, the Dangote Refinery has made notable reductions in its petrol prices, having decreased its ex-depot price from N890 to N825 as of February 26, 2025. This marks the second price cut by the refinery since February, highlighting a divergence in pricing strategies within the sector.

As the situation develops, stakeholders and consumers alike are advised to remain vigilant and informed regarding fuel pricing dynamics in Nigeria.