The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that the commencement of domestic supply of Automotive Gas Oil (Diesel) by Dangote Refinery will lead to a significant drop in the pump price of the product. Abubakar Maigandi, the National President of IPMAN, revealed this in a statement on Tuesday, confirming that the $20 billion Dangote Refinery has started supplying diesel within the country.

According to Maigandi, Dangote Refinery is selling diesel at N1,225 per litre, a considerable decrease from the previous price of N1,700 per litre. He mentioned that while some marketers have already started purchasing the product, IPMAN as an association is yet to procure it in bulk to ensure they get the best possible rate.

The minimum volume of diesel being sold by Dangote Refinery is one million litres per marketer, with assurances of more products being released in the future. Maigandi also mentioned that the refinery is expected to start supplying Premium Motor Spirit (PMS) soon.

This development comes as a welcome relief to consumers, as the reduced price of diesel is expected to have a ripple effect on the overall cost of transportation and goods in the market. With Dangote Refinery entering the domestic market, competition is likely to increase, leading to more affordable prices for consumers.

The move by Dangote Refinery to supply diesel domestically is a significant step towards meeting the energy needs of Nigeria and reducing the country’s reliance on imported petroleum products. As the largest refinery in Africa, Dangote Refinery’s entry into the market is expected to bring about positive changes in the energy sector and boost the country’s economy.

In conclusion, the commencement of diesel supply by Dangote Refinery marks a new era in the Nigerian energy industry, with the potential to revolutionize the market and benefit consumers across the country. As IPMAN continues to monitor the situation, it is clear that the future of energy in Nigeria is looking brighter with Dangote Refinery leading the way.