How fuel marketers plan to adjust pump prices after Dangote’s policy shift

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that its members will implement a nationwide increase in petrol pump prices following Dangote Refinery’s suspension of fuel sales in Naira.

IPMAN National President, Abubakar Maigandi, disclosed on Saturday that the 650,000-barrel-per-day refinery notified its customers, including fuel marketers, by email on Friday about the suspension, which takes effect from Sunday, September 28, 2025.

He explained that the development would push pump prices beyond the current range of ₦865 to ₦910 per litre in Lagos and Abuja.

The new template is expected to take effect from Monday, September 29, if the Federal Government fails to resolve the Naira-for-crude-oil supply arrangement with the refinery.

“Yes, we received the email from Dangote Refinery on Friday evening. The implication is that our members will increase pump prices. It may begin on Monday if government does not intervene,” Maigandi stated.

The refinery attributed its decision to the exhaustion of its crude-for-Naira allocation, an arrangement introduced on October 1, 2024, between the company and the Federal Government.

In April 2025, the government had assured that the initiative, which aimed to reduce production costs and ease fuel prices, would continue indefinitely.

The development comes amid ongoing disputes between Dangote Refinery and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) over the recent dismissal of 800 workers.