The Independent Petroleum Marketers Association of Nigeria (IPMAN) has confirmed that its members will raise petrol pump prices nationwide following Dangote Refinery’s decision to suspend sales of petrol in Naira.
Fuel
According to IPMAN’s National President, Abubakar Maigandi, the 650,000-barrel-per-day refinery issued a notice to its clients, including fuel marketers, on Friday, September 26, informing them that the suspension would take effect from Sunday, September 28, 2025.
Maigandi explained that the move is expected to push the cost of petrol above the current range of ₦865 to ₦910 per litre in Lagos and Abuja.
He added that the new price template could take effect as early as Monday, September 29, unless the Federal Government steps in to resolve the crude-for-Naira supply arrangement with the refinery.
“Yes, we received the email from Dangote Refinery on Friday evening. This means our members will be compelled to adjust pump prices upward. The increase may begin on Monday if government fails to act,” Maigandi said.
Dangote Refinery attributed its decision to the depletion of the crude-for-Naira allocation an agreement between the company and the government introduced on October 1, 2024.
Although the Federal Government had, in April 2025, reassured Nigerians that the arrangement would continue indefinitely to help reduce production costs and keep petrol prices lower, the latest development suggests otherwise.
Fuel
This comes at a time when the refinery is already facing industrial unrest, following a dispute with the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) over the recent dismissal of 800 employees.
