The Independent Petroleum Marketers Association of Nigeria (IPMAN) says that its members would implement a nationwide increase in petrol price.
The development follows the decision of Dangote Refinery to suspend sales of petrol in Naira.
IPMAN’s National President, Abubakar Maigandi, disclosed the move in an interview with DAILY POST on Saturday.
Maigandi confirmed that on Friday, Dangote Refinery sent an email to its customers, as well as marketers, informing them of the suspension of petrol sales in Naira with effect from Sunday, 28th September 2025.
The 650,000 barrels per day refinery cited the exhaustion of its crude-for-naira allocation as the reason.
The refinery’s notice read in part, “We write to inform you that Dangote Petroleum Refinery & Petrochemicals has been selling petroleum products in excess of our Naira-Crude allocations and, consequently, we are unable to sustain PMS sales in Naira going forward.
“Kindly note that this suspension of Naira sales for PMS will be effective from Sunday, 28th of September, 2025. We will provide further updates regarding the resumption of supply once the situation has been resolved.
“All customers with PMS transactions in Naira who would like a refund of their current payments should formally request the processing of their refund.”
According to Maigandi, this suspension would result in fuel pump prices going up from their current N865 and N910 per litre in Lagos and Abuja starting 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.
This comes as the refinery is embroiled in a fresh fight with the Petroleum and Natural Gas Senior Staff Association of Nigeria over the sacking of 800 workers.
The Naira-for-crude agreement between Dangote Refinery and the Nigerian government came into effect on October 1, 2024. However, the refinery had maintained that its allocations under the crude-for-naira programme were inadequate to meet growing domestic demand.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
