IPMAN Signals Downward Review of Petrol Prices

Published on September 3, 2026

The Independent Petroleum Marketers Association of Nigeria (IPMAN) says petrol prices may be reviewed downward in the coming days as new supplies enter the market.

IPMAN National Publicity Secretary, Chinedu Ukadike, disclosed this in an interview with the News Agency of Nigeria (NAN), saying marketers are awaiting fresh supplies before adjusting pump prices.

The development follows a recent increase in petrol prices, with pump prices rising to between ₦1,310 and ₦1,345 per litre in parts of the country.

IPMAN National President, Abubakar Maigandi, attributed the increase partly to global oil market pressures and urged the Federal Government to engage local refiners to help reduce prices.

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“We are appealing to the Federal Government to broker a deal with Dangote Refinery to reduce fuel prices,” Maigandi said.

He added: “The government should intervene with Nigerian refiners, and this will lead to a reduction in fuel prices. It is different from fuel subsidy. In a situation where there is difficulty, the government should step in.”

Consumers are expected to see possible price reductions once the new supplies reach filling stations.

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