IPMAN Plans Petrol Price Review as Dangote Refinery Raises Depot Cost

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said filling stations across the Federal Capital Territory will begin reviewing petrol pump prices in the coming days as new products enter the market. The National Publicity Secretary of IPMAN, Chinedu Ukadike, disclosed this in an interview with the News Agency of Nigeria on Thursday in Abuja. He said marketers were preparing to adjust their pricing and sales strategies in response to changes in the cost of petroleum products. Ukadike, however, said the exact timing of the adjustment remained uncertain because marketers were yet to receive a definite date for the arrival of the new products. “Once the new products begin arriving, marketers are expected to respond quickly by reviewing their prices and updating their product offerings,” he said. He added that purchases could commence within the next few days, depending on when the process officially begins, and assured that the adjustments would be made in line with existing rules and regulations.

The development follows a series of adjustments to the gantry, or ex-depot, price of Premium Motor Spirit by the Dangote Refinery. According to the News Agency of Nigeria, the refinery raised its petrol ex-depot price from N1,165 per litre to N1,185, then N1,200 and subsequently N1,265 within the last week. The latest adjustment, which took effect on August 29, represented a N65 per litre increase from the previous N1,200 price. It was the third price adjustment by the refinery in eight days, adding N100 to the price of petrol at the refinery’s gantry—an 8.6 per cent increase within just eight days. The repeated adjustments have created uncertainty for both marketers and consumers, as the cost of replacing products could change substantially within a short period.

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The increases have already been reflected in pump prices across filling stations in the FCT. Checks in Abuja showed NNPC Retail stations increased their price from N1,250 to N1,270 per litre, while TotalEnergies and Bovas stations adjusted to about N1,275 per litre. In some areas, petrol prices have reportedly climbed to between N1,310 and N1,350 per litre. In parts of Lagos and Ogun, petrol has been reported at about N1,310 per litre, while prices in some northern states and areas farther from the refinery have climbed to N1,350 and above. IPMAN had previously explained that marketers could not continue selling petrol below their replacement cost, particularly amid frequent changes in the cost of replenishing their stocks. “Every time Dangote increases his price, our price will also rise,” Ukadike said. He noted that the volatility was making it difficult for both marketers and consumers to plan, as the cost of replacing products could change substantially within a short period.

The frequent price movements have raised concerns among motorists, who have urged the Federal Government to take steps to stabilise petrol prices. The impact extends beyond motorists, as higher petrol prices could increase transportation and operating costs for households and businesses, potentially putting additional pressure on the prices of goods and services. IPMAN’s latest position indicates that further price adjustments could occur once marketers begin taking delivery of new products, with the final pump prices expected to vary depending on supply costs, transportation and other distribution expenses.

Beyond the planned price review, IPMAN has also appealed to the Federal Government to intervene in the operations of Dangote Refinery to help reduce retail fuel prices. The National President of IPMAN, Abubakar Maigandi, urged the government to broker a deal with Dangote Refinery as part of its intervention to reduce fuel pump prices nationwide. He stressed that government intervention in the downstream petroleum sector should not be seen as a return to fuel subsidy. “We are appealing to the Federal Government to broker a deal with Dangote Refinery to reduce fuel prices. 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,” Maigandi said.

The development has also attracted criticism from the Nigeria Labour Congress (NLC) , which condemned the latest price hike, describing it as “avoidable and unacceptable.” The acting General Secretary of the NLC, Benson Upah, questioned why the Federal Government has not done more to ensure that the Dangote Refinery receives adequate supplies of Nigerian crude. “The latest increase is avoidable and unacceptable in light of falling prices in the international market and our local capacity to sell more crude oil to Dangote. Why are we not doing so?” he said. The debate comes as figures from the Nigerian Upstream Petroleum Regulatory Commission showed that oil producers offered 68.1 million barrels of crude to Dangote Refinery in the second quarter of 2026, against the refinery’s requirement of 63 million barrels, but the refinery accepted only 52.6 million barrels, highlighting the complexity of the domestic crude supply debate.

The price changes have continued to generate debate because they occurred alongside a decline in international crude oil prices in the period under review. The development underscores the sensitivity of Nigeria’s downstream petroleum market to changes in product acquisition and replacement costs, even as consumers continue to monitor pump prices across the country. Ukadike expressed optimism that the Dangote Refinery’s free transportation initiative for petroleum marketers could reduce distribution costs and eventually ease pump prices if sustained. He also welcomed the inclusion of Imo and Anambra states in the initiative, describing the two states as important gateway markets in the South-East.

IPMAN Plans Petrol Price Review as Dangote Refinery Raises Depot Cost

Uber exits Nigeria after 12 years

By Rasheed Bisiriyu

Global ride-hailing giant, Uber, has pulled out of Nigeria, ending its 12-year operation in the country and bringing to a close a major chapter in the evolution of app-based transportation in Africa’s most populous nation

The company announced the decision on Wednesday, saying it would wind down its Nigerian operations effective September 2, 2026.

Uber said the decision followed a “thorough review” of its business in the country.

“We are writing to share some difficult news. After a thorough review of our business, we have made the tough decision to wind down our operations in Nigeria, effective 2 September 2026,” the company said in a message to its customers.

The development marks the end of Uber’s 12-year presence in Nigeria, which began with its launch in Lagos in 2014.

Its arrival transformed the urban transportation landscape, particularly in Lagos, by popularising app-based ride-hailing and providing commuters with an alternative to conventional taxis and other forms of commercial transportation.

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Through its platform, passengers could request rides using their mobile phones and connect with independent drivers, while vehicle owners and drivers gained access to a new source of income.

Over the years, Uber became a familiar part of the daily commuting experience of many Nigerians, particularly in major urban centres.

The company, while announcing its exit, thanked Nigerians for allowing it to become part of their daily lives.

“Since we first launched in Lagos in 2014, it has been an absolute privilege to be a part of your daily life connecting you with independent transportation providers,” Uber said.

“Whether it was a morning commute, a ride to see loved ones, or exploring the city, thank you for trusting the platform to connect you to a driver to get you there safely.”

Uber also apologised to customers for the disruption its departure might cause.

“We know this may cause disruption to your routine, and we sincerely apologise for the inconvenience,” it said.

The company’s exit comes as Nigeria’s ride-hailing market has become increasingly competitive, with several local and international platforms offering app-based transportation services to commuters.

The sector has also faced challenges linked to rising vehicle operating costs, fuel prices, regulatory requirements and changing market conditions.

Uber said its Help Centre would remain available until September 23 to assist customers with final account-related enquiries.

“Thank you for welcoming us into your city,” the company said.

Uber’s departure brings to an end a significant chapter in Nigeria’s digital transportation story, following its role in changing how millions of commuters booked and paid for rides over the past decade.

Uber exits Nigeria after 12 years

Court restrains NMDPRA from shutting down Dangote Refinery over regulatory dispute

A Federal High Court in Lagos has restrained the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) from shutting down, sealing or interfering with the operations of the Dangote Petroleum Refinery at the Lekki Free Zone.

Justice Akintayo Aluko issued the interim order on Monday while ruling on an ex-parte application filed by Dangote Petroleum Refinery in suit No. FHC/L/CS/1174/2026.

The application was filed and argued by a legal team led by Senior Advocate of Nigeria Olawale Akoni.

The court intervention followed a directive issued by NMDPRA on August 24, 2026, ordering the suspension of loading and truck-out of petroleum products from the Dangote Refinery.

Following the directive, the refinery approached the court seeking an urgent order preventing the regulator from implementing the suspension pending the hearing and determination of its substantive application.

Dangote asked the court to restrain NMDPRA, its officials, agents, representatives and anyone acting under its authority from enforcing or taking further steps pursuant to the August 24 directive.

The refinery also sought protection against any attempt by the regulator to enter its facilities, seal or shut down the refinery, restrict access, obstruct operations, suspend activities, inspect, supervise, sanction or otherwise interfere with its refinery, petrochemical, terminal, storage, blending, loading and truck-out facilities within the Lekki Free Zone.

Justice Aluko said he had carefully considered Dangote’s application, which was supported by a 42-paragraph affidavit and Exhibits A1 to A6, as well as the submissions of counsel.

The judge also considered correspondence between the parties, including the August 24 letter from NMDPRA that formed the basis of the dispute.

A major issue considered by the court was the extent of NMDPRA’s authority to exercise regulatory and oversight powers within free zones pending determination of the substantive case.

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Justice Aluko referred to a letter dated March 2, 2026, issued by the Attorney-General of the Federation, which, according to the judge, stated that NMDPRA was not entitled to exercise regulatory powers or oversight functions over operations within free zones.

The judge said this position appeared to be at odds with NMDPRA’s August 24 directive, which purported to exercise such regulatory authority over activities at the Dangote facility.

Justice Aluko stressed that courts have an inherent responsibility to preserve the subject matter of litigation and prevent circumstances that could alter or undermine it before the substantive dispute is resolved.

He held that Dangote had satisfied the conditions required for the grant of an interim injunction.

The refinery also gave an undertaking to compensate NMDPRA in damages if it is subsequently determined that the court should not have granted the order.

“Accordingly, I find merit in the application, and the same is hereby granted in terms of the reliefs sought,” the judge ruled.

He directed Dangote to file a formal undertaking as to damages and ordered that the court’s order and notice be served on NMDPRA.

The matter has been adjourned until September 9, 2026, for the hearing of the motion on notice.

The latest order temporarily prevents NMDPRA from carrying out the specific measures challenged by Dangote while the substantive application is considered.

However, the ruling does not amount to a final judgment that NMDPRA has no regulatory authority over the Dangote Refinery.

The central issue remains whether the petroleum regulator can lawfully exercise its statutory oversight powers over petroleum operations conducted within the Lekki Free Zone, and, if so, the scope of those powers.

The case could have implications beyond Dangote Refinery because the dispute touches on the respective regulatory responsibilities of agencies operating within Nigeria’s oil and gas free zones.

The Dangote Refinery, with a nameplate capacity of about 650,000 barrels per day, has become a major component of Nigeria’s strategy to increase domestic refining and reduce dependence on imported petroleum products.

The facility’s emergence has also generated disagreements involving domestic crude supply, petroleum imports, product pricing and the regulatory framework governing Nigeria’s downstream petroleum industry.

Dangote Refinery has previously challenged aspects of NMDPRA‘s regulation of petroleum imports, particularly the issuance and renewal of licences allowing petroleum products to be brought into Nigeria.

The refinery has argued that continued importation of refined products could undermine investments in domestic refining capacity.

The regulatory disagreement comes as Dangote Refinery seeks to increase its role in supplying petrol, diesel, aviation fuel and other refined petroleum products to the Nigerian market and neighbouring countries.

The facility has increasingly become central to discussions about Nigeria’s energy security, domestic crude utilisation and the future of the country’s petroleum downstream sector.

The latest court order also places renewed attention on the legal status of operations carried out within Nigeria’s free zones and the boundaries between the various government agencies responsible for petroleum regulation.

For now, Dangote Refinery can continue the operations covered by the court order without the threatened enforcement measures from NMDPRA, pending further proceedings.

The next major development is expected on September 9, when the Federal High Court will hear Dangote’s motion on notice.

The outcome of the proceedings could provide greater clarity on the extent of NMDPRA’s regulatory oversight over Dangote Refinery and other petroleum operations within free zones.

Until then, the interim injunction remains in force, leaving the substantive regulatory dispute between Dangote Refinery and NMDPRA to be determined by the court.

Court restrains NMDPRA from shutting down Dangote Refinery over regulatory dispute