The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced plans to increase petrol pump prices nationwide following Dangote Refinery’s suspension of petrol sales in naira.
IPMAN’s National President, Abubakar Maigandi, confirmed the development in an interview on Saturday, saying the move was communicated through an email sent by the 650,000-barrel-per-day refinery to its customers, including marketers, on Friday, September 26.
According to the notice, the suspension of Premium Motor Spirit (PMS) sales in naira takes effect from Sunday, September 28, 2025.
Maigandi warned that the implication would be a sharp rise in pump prices from the current ₦865–₦910 per litre in Lagos and Abuja, unless the Federal Government intervenes.
“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 said.
The suspension stems from the exhaustion of the refinery’s crude-for-naira allocation, an arrangement reached with the Federal Government in October 2024 to cushion production costs and stabilize fuel prices. The government had earlier declared in April 2025 that the initiative would continue indefinitely.
The latest development comes amid ongoing disputes between Dangote Refinery and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) over the alleged unlawful dismissal of 800 workers.