Cut Petrol Price To ₦750/Litre – IPMAN Tells Dangote

• Cut Petrol Price To ₦750/Litre – IPMAN Tells Dangote.
• Marketers suggest PMS should cost between ₦750 and ₦780.
• Dangote insists Nigerians still pay far less than neighbours.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on Dangote Petroleum Refinery to reduce the current pump price of Premium Motor Spirit (PMS), arguing that the ₦825 per litre rate is too high for Nigerian consumers.

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EKO HOT BLOG reports that speaking to Punch, IPMAN’s National Publicity Secretary, Chinedu Ukadike, said the refinery benefits from favourable policies—particularly the naira-for-crude arrangement—and should reflect that in lower pricing. According to him, petrol should not cost more than ₦750 per litre.

“I agree petrol is cheaper here than in other West African countries. But we are a crude oil-producing nation, unlike those Dangote is comparing us with,” Ukadike stated. “The president has also decided to give him crude in naira, which removes foreign exchange barriers. Nigerians deserve to benefit from that.”

Ukadike acknowledged that Dangote has addressed the issue of fuel availability but insisted that affordability remains a major concern. “Availability has been solved, yes. But on price, we’re not there yet,” he said.

He estimated that based on production and depot landing costs, PMS should retail for between ₦750 and ₦780, assuming exchange rates stabilize. “If the dollar drops from ₦1,600 to ₦1,200, petrol will go below ₦750 per litre,” he projected.

Meanwhile, Dangote Group Chairman, Aliko Dangote, defended his refinery’s pricing structure. During a visit by ECOWAS Commission President, Dr Omar Touray, Dangote said PMS from his refinery is sold at ₦815 to ₦820 per litre—almost half the regional average of ₦1,600 per litre.

“Nigerians are paying just 55 per cent of what others in West Africa pay for petrol,” Dangote said, describing the naira-for-crude policy as transformative.

He also pointed to the impact of local refining on diesel prices, noting that diesel has dropped from ₦1,700 to around ₦1,100 since the refinery began operations.

Despite this, global analysts like S&P Global have observed that prices from Dangote Refinery remain high compared to the ongoing dip in global crude rates.

₦750/Litre – IPMAN Tells Dangote

As of the time of filing this report, Dangote Refinery’s spokesperson, Tony Chiejina, had not responded to IPMAN’s position.

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