The Federal Government has convened a meeting with the management of the Dangote Petroleum Refinery and key oil marketing associations to iron out sustainable modalities aimed at reducing the pump price of Premium Motor Spirit across the country.
The session, held in Abuja, brought together major industry players, including the Independent Petroleum Marketers Association of Nigeria (IPMA, the Major Energies Marketers Association of Nigeria (MEMAN) and officials from regulatory bodies.
The central focus of the discussions targeted removing logistical bottlenecks, refining supply chain efficiencies, and ensuring that the cost benefits of local refining are directly felt by Nigerian consumers.
Stakeholders at the meeting explored pricing frameworks that balance the refinery’s operational sustainability with the economic realities of citizens. By opening direct lines of communication between the refinery and local marketers, the government aims to eliminate unnecessary intermediary costs that inflate the final landing cost of fuel. The regulatory anchors present emphasized that optimizing domestic supply routes from the Lekki free zone is key to driving down retail prices nationwide.
The management of the Dangote Refinery reaffirmed its commitment to supporting the federal government’s economic stability goals by supplying affordable, high-quality product to the domestic market.
Representatives of the marketing associations expressed optimism following the engagement, noting that closer collaboration with the refinery will stabilize distribution and ensure a fairer, more transparent pricing structure at filling stations in the coming weeks.