A new round of increased fuel price is in the offing as the Independent Petroleum Marketers Association of Nigeria has announced that its members would effect a petrol price hike nationwide as Dangote Refinery suspended sales of petrol in Naira.
Disclosing this on Saturday, the National President of IPMAN, Abubakar Maigandi, confirmed that the 650,000-barrel-per-day refinery, dispatched an email to its customers, comprising marketers, telling them of the suspension of petrol sales in Naira with effect from Sunday, 28th September 2025.
He said the implication is that fuel pump prices would go up from their current N865 and N910 per litre in Lagos and Abuja.
He stated that the new price template comes.into effec from Monday, 29th September, 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,” he told DAILY POST.
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, affect the price of petrol, would continue indefinitely.
