Fuel price may reduce when Port Harcourt refinery starts working – IPMAN president, Maigandi

The National President of the Independent Petroleum Marketers Association of Nigeria, IPMAN, Abubakar Maigandi, has hinted on a slight reduction in the pump price of petrol.

Maigandi said there would be a nominal reduction in the price of fuel when the Port Harcourt refinery becomes operational and marketers start loading the product from there.

He spoke on Monday during a meeting with Mele Kyari, the Group Managing Director of the Nigerian National Petroleum Company Limited, NNPCL, in Abuja.

Maigandi said: “As independent petroleum marketers, immediately we received the information, we told all our members to start preparing for loading, especially those in the South-South region of the country, because it is closer to them.

“So at any time they (NNPCL) say we should come and start loading, we are ready. We are just waiting for them to start.

“Price reduction is obvious when they start releasing products, and there will be availability because it would serve as support to the imported products. So we are expecting a change in price, for no matter how small the reduction is, it is still a reduction.

“Also, the commencement of operations there will create more employment for Nigerians. So it is a welcome development and IPMAN is happy about this, especially if products start coming out from the plant in the next two weeks as promised by NNPCL.”

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