The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged the Federal Government to provide the Dangote Petroleum Refinery with crude oil at reduced costs, in a bid to halt the rapid escalation of Premium Motor Spirit (PMS, petrol) prices now exceeding ₦1,000 per litre across many states.
Speaking exclusively to Nairametrics, IPMAN National President Abubakar Garima blamed the price surge on volatile global oil markets, intensified by ongoing Middle East tensions including the US-Israel conflict involving Iran which have pushed international crude prices sharply higher.
This has increased feedstock costs for the Dangote Refinery, directly feeding into higher domestic ex-depot and retail petrol prices."Government support for domestic refining could help moderate prices," Garima said.
He advocated for crude to be supplied to the refinery on more favourable terms rather than at full international market rates so that ex-gantry prices can be lowered, enabling independent marketers to offer more affordable petrol and bring stability to the market.
The plea follows a series of swift price adjustments by the Dangote Refinery in early March 2026:March 2: Ex-depot price rose from ₦774 to ₦874 per litre (₦100 increase).
March 6: Further adjustment to ₦995 per litre (additional ₦121), totaling a ₦221 hike in just four days.
These changes have driven retail pump prices nationwide, with current reports showing:₦1,070–₦1,100 per litre in northern states.
₦1,030–₦1,050 per litre in the South-West.
Depot prices for marketers ranging from ₦1,000 to ₦1,010 per litre, plus extra transportation and logistics charges.
In parts of Lagos and Ogun, the increases have led to supply shortages and fears that retail prices could climb toward or beyond ₦1,050 per litre depending on location and margins.
Industry analysts argue that offering discounted or subsidized crude to Africa's largest single-train refinery would strengthen energy self-sufficiency, reduce dependence on imported fuel (where landing costs have sometimes been lower), and ease the financial burden on consumers facing high inflation and rising living costs.
Dangote has previously absorbed portions of cost increases to cushion the domestic market, while stressing that local refining provides long-term price stability despite short-term global shocks.
As of March 9, 2026, no official response from the Federal Government or relevant agencies has been reported regarding IPMAN's proposal.
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