{"id":166392,"date":"2025-06-10T10:05:15","date_gmt":"2025-06-10T09:05:15","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/why-dangote-should-sell-pms-for-n770-per-litre-ipman"},"modified":"2025-06-10T11:21:33","modified_gmt":"2025-06-10T10:21:33","slug":"why-dangote-should-sell-pms-for-n770-per-litre-ipman","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/why-dangote-should-sell-pms-for-n770-per-litre-ipman","title":{"rendered":"Why Dangote should sell PMS for N770 per litre \u2014 IPMAN"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>The Independent Petroleum Marketers Association of Nigeria has explained that Dangote Refinery should sell premium motor spirit around N770 per litre.<\/p>\n

The spokesperson of IPMAN, Chinedu Ukadike, disclosed this on Monday.<\/p>\n

Ukadike was reacting to comments by businessman, Aliko Dangote, who said Nigeria\u2019s petrol is less expensive, as his refinery ex-depot price stood at N825 per litre.<\/p>\n

However, Ukadike noted that PMS is not cheap owing to the country\u2019s position as a crude oil producer.<\/p>\n

According to him, the exchange rate is a major determinant in PMS price in Nigeria, noting a drop in exchange from N1600 to around N1200 would bring down the price to below N750 per litre.<\/p>\n

\u201cOn my part, I don\u2019t feel it\u2019s cheap. I think the petrol will go as low as around N770. That\u2019s my own permutation. I\u2019m not an expert in oil refining. But with what I have gathered \u2014 the refinery production costs and the landing at the depot cost, petrol should not be more than N780 or N750, in line with the dollar rate. Now the rate is around N1,600 per dollar; should it appreciate further, PMS from Dangote Refinery should be N750 per litre.<\/p>\n

So, if the dollar can come down to N1,200, I want to tell you that the price of PMS at the pumps will go below N750,\u201d he added.<\/p>\n

Dangote, barely a week ago said Nigeria\u2019s petrol price is 55 percent below the West African average.<\/p>\n

He reiterated recently that Nigeria\u2019s petrol price is not expensive.<\/p>\n

Nigerians buy petrol between N875 and N910 in Lagos and Abuja.<\/p>\n

For More News And Analysis About Nigeria<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. The Independent Petroleum Marketers Association of Nigeria has explained that Dangote Refinery should sell premium motor spirit around N770 per litre. The spokesperson of IPMAN, Chinedu Ukadike, disclosed this on Monday. Ukadike was reacting to comments by businessman, Aliko Dangote, who said Nigeria\u2019s petrol is less expensive, as his refinery ex-depot price […]<\/p>\n","protected":false},"author":84,"featured_media":166391,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[1233,1455,254],"class_list":["post-166392","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-dangote","tag-ipman","tag-nigeria"],"yoast_head":"\nWhy Dangote should sell PMS for N770 per litre \u2014 IPMAN - Nigeria<\/title>\n<meta name=\"description\" content=\"The Independent Petroleum Marketers Association of Nigeria has explained that Dangote Refinery should sell premium motor ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/why-dangote-should-sell-pms-for-n770-per-litre-ipman\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Dangote should sell PMS for N770 per litre \u2014 IPMAN\" \/>\n<meta property=\"og:description\" content=\"The Independent Petroleum Marketers Association of Nigeria has explained that Dangote Refinery should sell premium motor ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/why-dangote-should-sell-pms-for-n770-per-litre-ipman\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-10T09:05:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-06-10T10:21:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/06\/sm_1749538256.370242.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1400\" \/>\n\t<meta property=\"og:image:height\" content=\"1400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/why-dangote-should-sell-pms-for-n770-per-litre-ipman#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/why-dangote-should-sell-pms-for-n770-per-litre-ipman\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Why Dangote should sell PMS for N770 per litre \u2014 IPMAN\",\"datePublished\":\"2025-06-10T09:05:15+00:00\",\"dateModified\":\"2025-06-10T10:21:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/why-dangote-should-sell-pms-for-n770-per-litre-ipman\"},\"wordCount\":288,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/why-dangote-should-sell-pms-for-n770-per-litre-ipman#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/06\/sm_1749538256.370242.jpg\",\"keywords\":[\"Dangote\",\"IPMAN\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/why-dangote-should-sell-pms-for-n770-per-litre-ipman#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/why-dangote-should-sell-pms-for-n770-per-litre-ipman\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/why-dangote-should-sell-pms-for-n770-per-litre-ipman\",\"name\":\"Why Dangote should sell PMS for N770 per litre \u2014 IPMAN - 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