Abubakar Maigandi, National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), has hinted at a slight reduction in the pump price of petrol.
Maigandi stated that when the Port Harcourt refinery is operational and marketers begin loading product from there, fuel prices will be reduced nominally.
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He spoke in Abuja on Monday during a meeting with Mele Kyari, the Nigerian National Petroleum Company Limited’s Group Managing Director.
Maigandi stated, “As independent petroleum marketers, as soon as we received the information, we told all of our members to begin preparing for loading, particularly those in the South-South region of the country, because it is closer to them.
“So, whenever they (NNPCL) say we should come and start loading, we are prepared. We’re just waiting for them to start.
“Price reductions are obvious when they begin releasing products, and there will be availability because it will serve as a supplement to imported products. So we expect a price change, because any reduction, no matter how small, is a reduction.
“Also, the start of operations there will create more jobs for Nigerians.” So it is a positive development, and IPMAN is pleased, especially if products begin to flow from the plant within the next two weeks, as promised by NNPCL.”
