Business
Petrol price reduction imminent as IPMAN, Dangote agree on direct fuel sale
The Independent Petroleum Marketers Association of Nigeria has said the commencement of direct sales of Dangote’s Premium Motor Spirit (Petrol) to its members will crash the price of fuel in the country in the coming days.
The National Secretary of the Independent Petroleum Marketers Association of Nigeria, James Tor, disclosed this on Monday.
His statement comes after IPMAN National President, Abubakar Maigandi, announced on Monday that Dangote Refinery has agreed to sell petrol directly to his members.
The agreement between IPMAN and the 650,000 barrels per day Dangote Refinery brings an end to the middleman posture played by the Nigerian National Petroleum Company Limited on the inaugural lifting of Dangote Petrol on September 16, 2024.
Similarly, the direct sale agreement means that petrol marketers have dumped imported fuel for Dangote petrol.
Speaking on the impact of the direct purchase agreement between IPMAN and Dangote Refinery, Tor explained that Nigerians will experience a drastic reduction in the price of petrol and a boost in the products’ availability nationwide.
According to him, the agreement would make the pump price of petrol at Independent marketers’ retail outlets drop below N1,150 per litre.
“If the business agreement kicks off, you will see a drastic reduction in the price of gasoline.
“For obvious reasons, it will lead to easy availability of the product and price factor.
We are the major stakeholders who have filling stations across the country.
“The price of petrol in our filling station will go much below N1,150 in our retail outlets depending on what Dangote Refinery agreed to give to us,” he said.
The spokesperson of Dangote Group, Anthony Chiejina, confirmed that IPMAN and Dangote Refinery have agreed on the direct sale of PMS.
Recall that petroleum marketers had in the last weeks sought the partnership of Dangote Refinery on direct sale of PMS.
This comes after the Nigerian government announced that NNPCL will no longer be the sole off-taker of Dangote Petrol, which is part of the implementation of the Naira-for-crude deal.
The Naira-for-crude implementation committee led by the Minister of Finance, Wale Edun, on October 11, 2024, permitted petrol marketers to lift Dangote Petrol.
Meanwhile, the latest agreement between IPMAN and Dangote Refinery on direct petrol sale has brought an end to the controversy between oil marketers and Dangote Refinery over fuel price in the last few days.
Dangote Refinery last week revealed that its gasoline is sold at N960 and N990 per litre for ships and trucks.
Earlier, IPMAN had insisted that imported fuel is cheaper than Dangote’s petrol.
According to report, petrol landing cost dropped to N971 per litre in November 2024, according to the Major Energies Marketers Association.
Despite this, Nigerians buy petrol between N1,060 and N1,200 across filling stations in the country.
However, with the IPMAN and Dangote Refinery direct PMS sale agreement, Nigerians are likely to buy the product within N1060 per litre price or below.
Meanwhile, the details of the petrol pricing agreed upon between IPMAN and Dangote Refinery will determine the price of the product in the coming days.
Recall that in the last two months, the price of petrol had doubled to between N1060 and N1,200 from N617 per litre traded in August 2024.
The hike in energy costs directly affects Nigeria’s inflation, which stood at 32.70 percent in September 2024.
Business
Nigerian govt suspends implementation of 15% petrol import duty
The Nigerian government has suspended the planned 15 per cent import duty on premium motor spirit (PMS) and automotive gas oil (diesel). The announcement was made by George Ene-Ita, spokesperson for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), in a statement on Thursday.
The regulator urged Nigerians to avoid panic buying, assuring that there is adequate supply of petroleum products nationwide.
“It should also be noted that the implementation of the 15 percent ad valorem import duty on imported premium motor spirit and diesel is no longer in view,” NMDPRA stated.
The statement added that both domestic and imported supplies of petrol, diesel, and other petroleum products are sufficient to meet demand, especially during the peak period. The authority warned against hoarding, panic buying, or unwarranted price increases, and affirmed that it would continue to monitor supply and distribution closely.
President Bola Ahmed Tinubu had approved the 15 per cent import duty last month to encourage the use of products from Dangote Refinery. While some stakeholders supported the move as a boost for local refining, critics argued it could increase fuel prices and worsen economic hardship for Nigerians.
Business
NAFDAC’s Ban on sachets alcohol: the economy repercussions, by MAN
The Association emphasised that the ban would likely lead to the “Loss of over N1.9 trillion in investments, primarily from indigenous Nigerian companies.
The Manufacturers Association of Nigeria (MAN) has said that the government’s move to ban the production and sale of alcoholic beverages packaged in sachets and small PET bottles, effective December 31, 2025, will have severe repercussions on the economy.
” This announcement by the NAFDAC, in our view, is counterproductive and threatens to disrupt the economy significantly at a time when it is beginning to stabilise,” said the Association through its Director-General, Ajayi-Kadir.
The Association emphasised that the ban would likely lead to the “Loss of over N1.9 trillion in investments, primarily from indigenous Nigerian companies.
• Mass retrenchment of over 500,000 direct employees and approximately 5 million indirect employees through contracts, marketing, and logistics.”
Ajayi-Kadir said that the earlier directive from the Ministry of Health for a one-year extension, which included the consideration and validation of the draft National Alcohol Policy by stakeholders, should have been taken into account before any significant announcement from another government body.
“We believe that a consultation with whether through a public hearing or focused meetings with relevant parties in the alcohol beverage industry, should have been conducted by the appropriate Senate Committee before an outright ban was imposed.
This approach was successfully followed by the House of Representatives in the recent past,” he stated.
Ajayi-Kadir highlighted that issues related to the ban on alcohol in sachets and small PET bottles were addressed by a broad committee that included all stakeholders, along with NAFDAC representatives, who validated the National Alcohol Policy in October 2025. The committee made the following key recommendations:
• Develop multi-sectoral action plans.- Strengthen enforcement by law enforcement agencies
• Establish licensed liquor stores/outlets in Local Government Areas nationwide.
• Increase monitoring and compliance checks by NAFDAC, FCCPC, and others to ensure product quality and safety.
• Regulatory bodies should focus more on regulation, monitoring, and educational campaigns to inform stakeholders and the public about the dangers of underage alcohol consumption and its sale in motor parks.
• Conduct educational campaigns in secondary schools across the country to raise awareness among students about the dangers and issues related to alcohol abuse.
Furthermore, we would like to note that the unfounded and untested claim of abuse by minors has been challenged by several independent studies conducted by the government.
The industry has proactively launched campaigns promoting responsible alcohol consumption to discourage underage abuse, resulting in expenditures exceeding one billion Naira on media outreach across the nation, which has effectively just underage drinking.
Ajayi-Kadir also stressed that the Senate’s directive for an outright ban is unjust and does not reflect the industry’s true conditions, as it seems the upper chamber has only considered NAFDAC’s perspective.
NAFDAC was part of the validation organised by the Ministry of Health, and it should have presented its views to the Committee and the Ministry during that process, rather than circumventing these channels and approaching the National Assembly without consulting other stakeholders.
Business
Following Lagos, FG moves to ban single-use plastics
In his inaugural address, the SGF, George Akume, stated that the initiative aligned with Nigeria’s commitment to global environmental standards.
The Federal Government has commenced the process to ban single-use plastics, inaugurating a committee to steer the policy.
Lagos government began fully enforcement ban on single-use plastics (SUPs), including styrofoam packs, plastic straws, disposable cups, plastic cutlery, and nylons less than 40 microns thick, on July 1, 2025.
The Office of the Secretary to the Government of the Federation (SGF) , yesterday , set up an Inter-Ministerial Committee on the Ban of Single-Use Plastics (SUPs).
Earlier, the Federal Executive Council (FEC) during its meeting on June 25, 2024, approved the ban , specifically targeting Polyethene Terephthalate (PET) bottles, styrofoam food packs, plastic shopping bags, sachet water packaging, and plastic straws.
In his inaugural address, the SGF, George Akume, stated that the initiative aligned with Nigeria’s commitment to global environmental standards.
He said: “The FEC decision was in line with the Federal Government’s efforts to tackle various health and environmental challenges, especially those caused by single-use plastic products and therefore, approved the ban in the country of polyethene terephthalate (PET) bottles, styrofoam, plastic bags, sachet water and straw, which has become an environmental sanitation challenge.”
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