IPMAN plans a nationwide petrol price hike after Dangote Refinery suspended Naira-based petrol sales, citing depleted crude-for-Naira allocations.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced plans for a nationwide petrol price increase following the Dangote Petroleum Refinery’s suspension of petrol sales in Naira.
IPMAN National President, Abubakar Maigandi, told DAILY POST on Saturday that the 650,000-barrel-per-day refinery emailed marketers on Friday, notifying them that Naira transactions would cease from Sunday, September 28, 2025.
“Yes, we received the email from Dangote Refinery on the suspension of Premium Motor Spirit sales in Naira on Friday evening. The implication is that our members will announce a fuel price increase. It may take effect from Monday if the Federal Government does not intervene,” Maigandi said.
Pump prices are expected to rise above the current N865 and N910 per litre in Lagos and Abuja unless the Federal Government addresses the Naira-for-crude arrangement. Dangote Refinery cited exhaustion of its crude-for-Naira allocation, even as it faces labour disputes over the dismissal of 800 workers.