Nigerian Marketers To Announce Fuel Price Hike After Dangote Refinery Suspends Petrol Sales In Naira
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The Independent Petroleum Marketers Association of Nigeria (IPMAN) has declared that its members will implement a nationwide petrol price increase following Dangote Refinery’s suspension of petrol sales in Naira.
The National President of IPMAN, Abubakar Maigandi, disclosed this to the newsmen in an interview on Saturday, 27th of September, 2025.
He confirmed that the 650,000-barrel-per-day refinery, on Friday, sent an email to its customers, including marketers, informing them of the suspension of petrol sales in Naira with effect from Sunday, 28th of September, 2025.
According to him, the implication is that fuel pump prices would go up from their current ₦865 and ₦910 per litre in Lagos and Abuja.
He said the new price template would be effective from Monday, 29th September, 2025 if the Federal Government does not address the Naira-for-crude-oil allocation with Dangote Refinery.
“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.”
It was gathered that Nigerians may witness a fuel price hike in the coming days as Dangote Refinery suspended petrol sales in Naira.
The company had cited exhaustion of its crude-for-Naira allocation. This is coming at a time when Dangote Refinery is embroiled in a fresh fight with the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) over the unjust sacking of 800 workers.
The Naira-for-crude agreement between Dangote Refinery and the Nigerian Government came into effect on October 1, 2024.
The Federal Government, in April 2025, declared that the initiative, which is intended to bring down the cost of production for the refinery and, by extension, impact the price of petrol, would continue indefinitely.
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