The National President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Garima, has urged the Federal Government of Nigeria to reduce the price of crude oil supplied to the Dangote Petroleum Refinery. He said the move could help reduce the rising cost of petrol across the country.

Garima explained that petrol prices, also known as Premium Motor Spirit, have crossed ₦1,000 per litre in several states. According to him, lowering the crude oil cost for the refinery could make it easier to produce fuel at cheaper rates for Nigerians.

He noted that global oil market instability has contributed to the rising prices. The situation has been worsened by tensions in the Middle East involving the United States, Israel and Iran, which have pushed crude oil prices higher.

Garima suggested that the government should provide crude oil to the Dangote refinery on more favourable terms instead of relying strictly on international market prices. This, he said, could help the refinery reduce its ex-gantry price for marketers.

Recent reports show that petrol pump prices have climbed to around ₦1,070 to ₦1,100 per litre in northern parts of Nigeria, while prices in the South-West range between ₦1,030 and ₦1,050. Depot prices for marketers have also increased to about ₦1,000 per litre.

Industry experts believe supporting local refining could help stabilise fuel supply and reduce pressure on consumers. They say improving access to cheaper crude for the refinery could strengthen Nigeria’s energy security and ease the burden of rising fuel costs.