RismadarVoice Reporters, June 9, 2026
Nigeria’s petrol price could have surged to between N5,000 and N6,000 per litre had the country remained dependent on fuel imports during the ongoing Iran-United States-Israel conflict, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has warned.
IPMAN spokesperson, Chinedu Ukadike made the disclosure in an interview on Monday, crediting the Dangote Refinery now operating at 700,000 barrels per day with shielding Nigerian consumers from the full shock of the Middle East crisis, which has entered its third month.
The comments followed a recent drop in pump prices across the country after the refinery reduced its gantry price. Petrol now retails between N1,317 and N1,360 per litre in Abuja, down from a previous range of N1,360 to N1,370.
Ukadike said the refinery has ended Nigeria’s vulnerability to global supply disruptions. “Nigeria is no longer dependent on petrol product imports,” he said, adding that the country is simultaneously earning higher crude oil revenue as global prices rise due to the conflict.
