The Independent Petroleum Marketers Association of Nigeria has declared that its members will implement a nationwide increase in petrol prices following the suspension of petrol sales in Naira by Dangote Refinery.
Abubakar Maigandi, the National President of IPMAN, shared this information with ETIMES247 during an interview on Saturday.
He confirmed that the refinery, which has a capacity of 650,000 barrels per day, sent an email to its customers, including marketers, on Friday, notifying them of the suspension of petrol sales in Naira effective from Sunday, 28th September 2025.
He indicated that this development would lead to an increase in fuel pump prices from the current rates of N865 and N910 per litre in Lagos and Abuja, respectively.
He stated that the new pricing structure would take effect from Monday, 29th September, unless the Federal Government intervenes regarding the Naira-for-crude-oil allocation with Dangote Refinery.
“Indeed, we received the email from Dangote Refinery regarding the suspension of Premium Motor Spirit sales in Naira on Friday evening. This means our members will be announcing a fuel price increase, which may commence on Monday if the Federal Government does not take action,” he informed ETIMES247.
Previously, ETIMES247 reported that Nigerians might experience a rise in fuel prices in the near future due to the suspension of petrol sales in Naira by Dangote Refinery.
The company attributed this situation to the depletion of its crude-for-Naira allocation. This development occurs amidst a new dispute involving Dangote Refinery and the Petroleum and Natural Gas Senior Staff Association of Nigeria concerning the unjust termination of 800 employees.
Naira for crude sale
The Naira-for-crude agreement between Dangote Refinery and the Nigerian government was initiated on October 1, 2024.
In April 2025, the Federal Government announced that this initiative, aimed at reducing production costs for the refinery and consequently affecting petrol prices, would remain in effect indefinitely.
