By Fatima Mukhtar
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has disclosed that petrol prices are set to climb nationwide following the Dangote Refinery’s decision to stop selling Premium Motor Spirit (PMS) in Naira.
IPMAN’s National President, Abubakar Maigandi, confirmed the development in an interview on Saturday, noting that the refinery, which has a production capacity of 650,000 barrels per day, officially notified its customers and marketers via email on Friday. The directive, effective from Sunday, September 28, 2025, suspends all local currency transactions for petrol supply.
According to Maigandi, the immediate outcome will be a rise in pump prices, which are currently between ₦865 and ₦910 per litre in Lagos and Abuja.
“Our members will have no choice but to adjust pump prices upward. Unless the Federal Government steps in, Nigerians should expect the changes to reflect from Monday,” he explained.
Reports earlier suggested that a price increase was imminent after Dangote Refinery announced that its Naira-based petrol sales had been halted due to the depletion of crude-for-Naira allocations.
The situation adds to existing tensions, as the refinery is also locked in a fresh dispute with the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) over the dismissal of about 800 employees.
The crude-for-Naira arrangement, introduced on October 1, 2024, was initially designed to cut costs and stabilize fuel prices across the country. In April 2025, the Federal Government had declared the policy would run indefinitely, raising questions about the sudden halt.
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