Dangote Refinery Suspension Signals Potential Fuel Price Increase

Nigerians face a potential fuel price hike as Dangote Refinery suspends petrol sales in Naira, prompting the Independent Petroleum Marketers Association of Nigeria (IPMAN) to consider adjusting pump prices nationwide. The suspension of Premium Motor Spirit (PMS) sales in Naira by Dangote Refinery due to allocation exhaustion may lead to increased fuel prices.

IPMAN's National President, Abubakar Maigandi, confirmed the refinery's decision and warned of impending price adjustments unless the Federal Government intervenes. The current pump prices in Lagos and Abuja are at N865 and N910 per liter, respectively.

The situation highlights concerns over refinery allocations and production capacities.