The Independent Petroleum Marketers Association of Nigeria IPMAN has announced that its members will initiate a nationwide rise in petrol prices following Dangote Refinery’s halt of petrol sales in naira.
In an interview with Daily Post on Saturday, IPMAN’s National President, Abubakar Maigandi, revealed this news.He confirmed that the 650,000-barrel-per-day refinery sent out an email on Friday to its clientele, including marketers, notifying them of the cessation of petrol sales in Naira starting on Sunday, 28th September 2025.
He indicated that this development means that fuel pump prices would increase from their current rates of N865 and N910 per litre in Lagos and Abuja, respectively.He mentioned that the updated price structure would take effect on Monday, 29th September, unless the Federal Government intervenes regarding the Naira-for-crude-oil arrangement with Dangote Refinery.
“Yes, 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 declare a rise in fuel prices. It may commence on Monday if there’s no governmental intervention,” he stated
Previously, media highlighted that Nigerians might face an increase in fuel prices soon as Dangote Refinery halted petrol sales in Naira. The company cited the depletion of its crude-for-Naira allocation. This situation arises amid Dangote Refinery’s ongoing dispute with the Petroleum and Natural Gas Senior Staff Association of Nigeria over the unfair dismissal of 800 employees.
The Naira-for-crude agreement between Dangote Refinery and the Nigerian government was established on October 1, 2024.In April 2025, the Federal Government announced that the initiative, aimed at reducing production costs for the refinery and subsequently affecting petrol prices, would persist indefinitely.