Marketers Demand Petrol Price Drop Below ₦800/Litre, Seek Import Rights

The Federal Government met with major downstream operators, including IPMAN, NMDPRA and Dangote Refinery representatives, to address why local pump prices remain high despite falling global crude costs. IPMAN’s president urged the restoration of importation rights and support for local refineries. He noted independent marketers have already cut prices by ₦125 nationwide and projected pump prices could fall below ₦800 per litre under competitive market conditions. The Minister of State for Petroleum Resources said stakeholders must propose concrete steps to ensure global price reductions translate into lower costs at the pump. Discussions are ongoing with no firm deadline for the next price review.

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