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In a move that will immediately impact millions of Nigerians, fuel marketers have confirmed plans to increase petrol prices nationwide after Dangote Refinery suspended sales in the local currency. The development threatens to reverse recent gains in fuel affordability and underscores the fragile nature of Nigeria's petroleum distribution system.

  • IPMAN confirms nationwide petrol price increase following Dangote Refinery's decision
  • Price hike effective from Monday if government fails to intervene in crude allocation
  • Current prices of N865-N910 per litre expected to rise significantly
  • Dangote Refinery cited exhaustion of naira crude allocations as reason for suspension
  • Suspension affects all customers including marketers who received formal notification
  • Government's naira-for-crude agreement intended to reduce production costs
  • Price increase comes amid ongoing labor disputes between refinery and PENGASSAN
This situation highlights the critical interconnection between government policy, refinery operations, and consumer fuel costs, with ordinary Nigerians bearing the immediate burden of supply chain disruptions.

Sources: Daily Post Nigeria, Nairametrics