Home BusinessDangote Refinery’s Suspension Triggers Fuel Price Increase

Dangote Refinery’s Suspension Triggers Fuel Price Increase

written by user photoFaisal Salisu Dambatta

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.

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“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.

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Faisal Salisu Dambatta is a Nigerian journalist, editor, and digital publisher recognized for his dedication to factual reporting and public-interest storytelling. He has built a reputation for blending traditional journalistic integrity with modern, data-driven news analysis. Over the years, Faisal has covered national and regional developments across politics, governance, technology, and socio-economic affairs. His writing emphasizes accuracy, accountability, and the preservation of journalistic ethics in the digital age. He currently serves as a lead editor at Etimes247 Newspaper, where he oversees editorial direction, audience engagement, and the integration of SEO-optimized content strategies. Faisal believes in using media as a force for civic awareness and constructive public dialogue. When he’s not editing stories, he contributes to journalism training, digital literacy advocacy, and research on the evolution of online news consumption in Africa. Areas of Expertise: Investigative reporting | Digital publishing | Media strategy | SEO | Audience development

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