IPMAN refutes NNPC fuel price cut, says no change announced on portal or implemented on the ground
By Jeph Ajobaju, Chief Copy Editor
Independent fuel marketers have contradicted the claim by the Nigerian National Petroleum Company (NNPC) that it has reduced its ex-depot price of the commodity from N940 per litre to N825.
Independent Petroleum Marketers Association of Nigeria (IPMAN) spokesman Chinedu Ukadike countered that NNPC’s price is yet to drop, following the latest disruption of the market by Dangote Refinery slashing price from N890 per litre to N825.
Ukadike told Daily Post that the ex-depot price of NNPC has remained unchanged at N940 per litre.
His reaction arose from reports that the NNPC cut its retail fuel pump price to N860 per litre from N865 in Lagos and N940 in the Federal Capital Territory (FCT), Abuja.
Ukadike insisted that NNPC’s price reduction is usually announced on its portal for marketers, however, there was no price change at the time of this report.
“The ex-depot price of PMS has remained unchanged at N940 on NNPC’s portal. We are not aware of any petrol price reduction at NNPC,” he stressed.
Dangote Refinery has reduced its fuel price twice within the last two months, the latest on February 26 when it announced ex-depot price reduction from N890 per litre to N825.
The NNPC reportedly reacted by slashing its own pump price from N940 per litre to N860 effective from March 3.
To implement the price change, the NNPC in a public notice announced three partner off-takers in Lagos – MRS at N860 per litre, AP at N865 per litre, and Heyden at N865 per litre.
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