By Ayo Kehinde
The Dangote Refinery has raised its ex-depot petrol price from N825 per litre to N880.
The new rate, which took effect on Friday, marks an increase of N55 per litre.
Abubakar Shettima, the National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed the development on Saturday.
“We are aware that the refinery has reviewed the price to N880 per litre. Our members have been informed”, he said.
In a swift reaction to the increase, members of the Major Energy Marketers Association of Nigeria (MEMAN), Independent Marketers Association of Nigeria (IPMAN), NNPC Retail outlets and Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), have all responded by adjusting their meters.
Prior to the hike, NNPC retail outlets were selling at N870 per litre, but by Saturday morning, prices have been adjusted to N910 per litre.
The same trend was equally followed by other marketers, including Dangote partners – MRS, Ardova and Heyden.
