Independent petroleum marketers in Nigeria have urged the Federal Government to restore their right to import petroleum products, citing potential pump price reductions for Premium Motor Spirit (PMS) under favorable market conditions.

The National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, highlighted during a stakeholders’ meeting that prices could drop below ₦800 per litre if supply costs decrease.He emphasized the need for the government to support local refineries like Dangote while allowing marketers to import directly.Maigandi noted that independent marketers have already reduced prices by ₦125 per litre nationwide and are prepared to cut further if costs fall.The meeting, organized by the Federal Government, addressed concerns about stagnant petrol prices despite falling global crude oil prices.

Minister of State for Petroleum Resources, Heineken Lokpobiri, confirmed ongoing discussions to ensure lower pump prices for Nigerians, while NMDPRA CEO Rabiu Umar stressed the importance of market efficiency and consumer welfare.

The stakeholders included major energy players, regulators, and refinery representatives, aiming to align domestic prices with global crude oil trends.