Nigeria’s fuel price would likely have climbed sharply to roughly ₦5,000–₦6,000 per litre without the country’s Dangote Refinery, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has warned. The association linked the relief in pump prices to the refinery’s role in cushioning domestic supply during the wider turmoil affecting global energy markets.
Quick facts
- IPMAN said Nigeria’s petrol price could have risen to between ₦5,000 and ₦6,000 per litre without Dangote Refinery.
- IPMAN’s spokesperson, Chinedu Ukadike, made the comments in an interview on Monday.
- Ukadike attributed the current nationwide fuel price decline to Dangote Refinery cutting its petrol gantry price.
- The refinery is described as processing about 700,000 barrels per day.
- IPMAN argued that continued reliance on imported petroleum products would have left Nigeria more exposed to the Middle East conflict, including the Iran and United States–Israel war.
- Daily Post reported retail pump prices fell to between ₦1,317 and ₦1,360 per litre in Abuja, down from ₦1,360–₦1,370 per litre.
IPMAN spokesman Chinedu Ukadike said the refinery’s operational capacity has effectively acted as a “buffer” for Nigeria’s domestic fuel availability. His remarks came as retail prices eased across the country following Dangote Refinery’s decision to reduce its petrol gantry pricing.
Ukadike added that Nigeria has been able to benefit from the ongoing geopolitical stress in the Middle East, saying the environment has supported higher crude oil earnings. He also used the moment to thank Dangote Refinery for continuing to supply the local market with petroleum products.
In his view, the shift away from heavy import dependence has changed Nigeria’s exposure to external shocks. He argued that without the refinery’s contribution, the country would have faced a more severe impact from the Iran conflict and the United States–Israel war, which has reportedly lasted more than three months.
“Nigeria is no longer dependent on petrol product imports,” Ukadike said, framing the current pricing trend as evidence of improved energy resilience. He added that the petroleum product “would have been around ₦6,000 or ₦5,000 per litre” without Dangote Refinery’s intervention.
Separately, Daily Post reported that retail pump prices have moved lower, with Abuja seeing fuel cost between ₦1,317 and ₦1,360 per litre. That compares with the previous range of roughly ₦1,360 to ₦1,370 per litre in the same city.
