Nigerians should prepare for higher petrol costs as Dangote Refinery suspends sales of petrol in Naira.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) confirmed on Saturday that its members will adjust pump prices nationwide after receiving official notice from the refinery. The company announced it would stop local currency transactions for petrol beginning Sunday, September 28, 2025.
IPMAN President, Abubakar Maigandi, explained that the move could push fuel prices above the current N865 to N910 per litre in Lagos and Abuja. He warned that unless the Federal Government intervenes to resolve the crude-for-Naira allocation, the new pricing structure could take effect as early as Monday, September 29.
Dangote Refinery cited the exhaustion of crude oil supplied under the Naira-for-crude arrangement as the reason for the suspension. The agreement, introduced in October 2024 and extended indefinitely in April 2025, was designed to help stabilize petrol prices by cutting production costs.
The development comes as the refinery faces separate labour tensions. The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has accused the company of unjustly dismissing 800 Nigerian workers, a dispute that has already led to threats of strike action.
With fuel prices set to climb and industrial disputes mounting, the refinery’s latest decision is expected to deepen pressure on households and businesses already struggling with rising costs.
