The Independent Petroleum Marketers Association of Nigeria has reacted to reports that the Nigerian National Petroleum Company has reduced its fuel price.

According to the spokesperson of IPMAN, Chinedu Ukadike, the price is yet to drop.

Ukadike stated this during an interview on DAILY POST on Monday.

According to him, the ex-depot price of NNPC petrol has remained unchanged at N940 per litre.

His clarification comes amid reports that NNPCL has dropped its retail fuel pump price to N860 per litre from N940 and N965 in Lagos and the Federal Capital Territory, Abuja.

When DAILY POST contacted NNPC’s spokesperson regarding the petrol price slash, he had neither confirmed nor dismissed the claim as of the time of filing this report.

Checks on the NNPC X account did not contain any statement or notice regarding the alleged price reduction.

Reacting, Ukadike stressed that NNPCL’s petrol price drop is usually indicated in its portal for petrol marketers; however, there was no price change as of the time of filing this report.

Meanwhile, from February to date, Dangote Refinery has reduced its petrol price twice.

The latest price drop by the 650,000-barrel-per-day refinery was on February 26, 2025, when it announced an ex-depot petrol price reduction to N825 from N890.