The cost of importing Premium Motor Spirit (petrol) into Nigeria has dropped below the gantry price of fuel produced by the Dangote Petroleum Refinery, following a fresh price increase by the Lekki-based facility. Industry data now show a widening gap that could reshape pricing dynamics in the downstream sector and influence retail pump prices nationwide.
Figures from the Major Energies Marketers Association of Nigeria reveal that the landing cost of imported petrol stood at N728.88 per litre as of last week. However, on Monday night, the Dangote refinery raised its gantry price from N699 to N799 per litre, pushing locally refined petrol to about N70 higher than the cost of imported PMS.
The price adjustment has already filtered down to retail outlets. The refinery announced that MRS filling stations, one of its major off-takers, would now sell petrol at N839 per litre. Spot checks on Tuesday confirmed that MRS outlets implemented the new price, moving from N739 on Monday to N839, reflecting the impact of the revised gantry rate from the 650,000 barrels-per-day Lekki refinery.
Market analysts say the development could intensify competition between imported fuel and locally refined products, especially as marketers seek cheaper supply options. With consumers already under pressure from rising living costs, the price shift is expected to draw renewed attention to fuel pricing policies and the broader implications for Nigeria’s energy market.