DERA - Wednesday, August 26, 2026

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said that restoring Nigeria’s refineries ,Port Harcourt, Warri, and Kaduna is the most effective way to reduce fuel prices.

IPMAN spokesperson, Chinedu Ukadike, made the remark in an interview with Daily Post, stressing that the current pump price of petrol, which ranges between ₦1,230 and ₦1,299 per litre in Abuja, could drop significantly if the refineries and pipelines were revived.

“The restoration of all the refineries, pipelines, and the 21 depots across Nigeria will stabilise supply. Whether subsidy is removed or not, competition will calm price volatility and reduce costs drastically,” Ukadike explained.

His comments come amid renewed debate over fuel subsidy, following a proposal for its return by Atiku Abubakar, presidential candidate of the African Democratic Congress (ADC).

Industry data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in July confirmed that none of Nigeria’s three refineries are currently operational.

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