The Independent Petrol Marketers Association of Nigeria, IPMAN, has predicted a drop in the price of petrol in the days ahead. This is as a result of the recent importation of petrol by the Nigerian National Petroleum Commission NNPC.
IPMAN’s National Public Relations Officer, Ukadike Chinedu, confirmed this development on Saturday, stating, “Once the products start hitting filling stations, fuel price will reduce because the recent high cost was due to supply drop.”
Just last week, the Nigerian Port Authority NPA, confirmed the arrival of 18 ships carrying fuel and other related goods. This tallies with the anticipated reduction in the price of petrol.
IPMAN and NNPC just few days ago had different reservations on the reason for the obvious fuel queues in some areas of the country. While IPMAN attributed the scarcity to fuel supply shortages, NNPC insisted that it was the result of a ‘price war’.