Nigerian oil marketers have announced fuel price hike.
Newsone Nigeria reports that the Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that its members would effect a petrol price hike nationwide as Dangote Refinery suspended sales of petrol in Naira.
The National President of IPMAN, Abubakar Maigandi, disclosed this to DAILY POST in an interview on Saturday.
He confirmed that the 650,000-barrel-per-day refinery, on Friday, sent an email to its customers, including marketers, informing them of the suspension of petrol sales in Naira with effect from Sunday, 28th September 2025.
According to him, the implication is that fuel pump prices would go up from their current N865 and N910 per litre in Lagos and Abuja.
He said the new price template would be effective 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.
Meanwhile, Newsone reports that the decision is coming after Dangote Refinery suspended petrol sales in Naira.
The company had cited exhaustion of its crude-for-Naira allocation.
According to the notice signed by the Group Commercial Operations of Dangote Petroleum Refinery & Petrochemicals, the decision would take effect from Sunday, September 28, 2025, citing the exhaustion of its crude-for-naira allocation as the reason.
Part of the notice read, “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.”
