Nigerian petroleum marketers have announced a fresh reduction in petrol pump prices starting today, Tuesday, July 15, 2025.
This adjustment coincides with the nationwide public holiday declared by the Federal Government to honour the late former President Muhammadu Buhari, who passed away on Sunday in London and will be laid to rest today in Daura, Katsina State.
Abubakar Maigandi, National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed the new pricing in an interview with DAILY POST on Monday.
According to Maigandi, the decision follows Dangote Refinery’s recent move to cut its ex-depot price from N840 to N820 per litre. In response, IPMAN members met in Abuja and resolved to reduce their retail pump prices.
“From Tuesday, our members in Abuja and parts of north-central Nigeria will be selling petrol between N900 and N920 per litre, compared to the previous range of N905 to N945,” Maigandi stated.
“In other regions, our members will be selling at even lower prices, around N860 to N890 per litre. Nigerians are happy because this marks the second price reduction in recent weeks.”
This follows Dangote Refinery’s announcement, made barely a week ago, which marked the second reduction in its ex-depot price this July. The 650,000-barrel-per-day refinery has been credited with driving down petrol prices through increased local supply, a benefit of Nigeria’s ongoing downstream sector liberalization.
Global market dynamics have also played a role, as crude oil prices dropped below $70 per barrel on Monday. Brent crude fell to $69.10 per barrel, while West Texas Intermediate (WTI) traded at $66.98.
The fuel price cut arrives at a symbolic moment, as the country pauses economic activities to mourn and honour Buhari’s legacy. The late president, who served from 2015 to 2023, will receive full state honours during his burial in his hometown.
