IPMAN Urges FG: Slash Crude Prices To Dangote As Petrol Hits Over ₦1,000 Per Litre

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on the federal government to provide crude oil to the Dangote Refinery at a subsidized rate, rather than at current international market prices.

The appeal was made by IPMAN National President, Abubabar Garima, during an interview with Nairametrics. He noted that supplying Dangote Refinery with cheaper crude could help curb the rising cost of petrol in Nigeria, which has been partly attributed to the ongoing Israel–US military operations against Iran.

In recent days, the price of Premium Motor Spirit (PMS), or petrol, has surged past ₦1,000 per litre in several Nigerian states.

Garima suggested that if the federal government offers Dangote Refinery crude at a subsidized rate, the refinery could in turn sell petrol to Nigerians at lower prices.

“Government support for domestic refining could help stabilize prices. Crude supplied to the Dangote Refinery should be offered on more favorable terms rather than strictly at prevailing international market rates,” Garima said.

He added that such intervention would allow the refinery to reduce its ex-gantry prices, enabling independent marketers to sell petrol more affordably and improve market stability.

The call comes after Dangote Refinery raised its gantry price by ₦121 in just four days, from ₦874 to ₦995 per litre, pushing retail prices above ₦1,050 per litre in several areas and creating supply shortages in locations such as Lagos and Ogun.