The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on the Dangote Petroleum Refinery to reduce the price of Premium Motor Spirit (PMS) to below N800 per litre, arguing that current conditions support a more affordable rate for Nigerians.

IPMAN’s Publicity Secretary, Chinedu Ukadike, made the statement during an interview, saying the refinery’s current price—between N815 and N825 per litre—was too high, considering the enabling factors provided by the Federal Government.

“We’re a crude oil-producing state. PMS should be far lower as the President has also decided to give him crude in naira,” Ukadike said. “So, most of the foreign exchange brouhaha and the exchange costs are no more there. We should also enjoy it as Nigerians.”

Ukadike acknowledged that the refinery had helped eliminate fuel scarcity but insisted that prices should drop further. “What I believe he (Dangote) has conquered for Nigerians is availability. On price, we’ll still get there,” he noted. “With refinery production costs and depot landing costs, petrol should not be more than N780, N750.”

He added that if the naira appreciates further—possibly to N1,100 or N1,200 per dollar—pump prices should dip below N750 per litre.

Meanwhile, Dangote defended the refinery’s pricing, stating that Nigerians were now paying about 55% less for petrol compared to neighboring West African countries. “In neighbouring countries, the average price of petrol is around $1 per litre, which is N1,600. But here at our refinery, we’re selling at between N815 and N820,” he told visiting ECOWAS officials.

He credited the Federal Government’s naira-for-crude initiative for the reduction, adding that local refining had already helped cut diesel prices and supported sectors like agriculture and mining.

As of press time, the refinery’s spokesperson, Tony Chiejina, had not responded to IPMAN’s remarks.