Lifestyle & Wellness DeskImported Petrol Landing Cost Stays Above Dangote Refinery’s N699/Litre
The landing cost of imported premium motor spirit (petrol) has continued to trade above the Dangote refinery’s ex-depot price of N699 per litre.
According to the Major Energies Marketers Association of Nigeria (MEMAN), while the Dangote refinery’s gantry price has remained steady at N699 since December, the landing cost for imported petrol has fluctuated between N750 and N780, intensifying competition among importers.
In its latest bulletin, MEMAN reported that the landing cost fell slightly to N754.96 from N758 the previous week, while Dangote’s gantry price remained at N699, a difference of about N44 per litre.
As a result, many importers are struggling to sell petrol at competitive rates compared with Dangote-backed MRS filling stations. When Aliko Dangote reduced the refinery’s gantry price by N129 in December, the move aimed to ensure consumers paid no more than N740 per litre during the Yuletide and to discourage importation.
Dangote explained that while marketers faced losses due to the price reduction, the refinery also incurred significant losses, estimating about N60 billion in November alone after cutting gantry prices by N49. He stressed that the refinery’s $20 billion investment is too large to fail, signalling a long-term strategy to maintain competitiveness against imported petrol.
The price war in the petroleum sector intensified over the weekend, with some filling stations dropping pump prices below N739 per litre. Surveyed outlets showed that retailers not supplied by Dangote but seeking competitiveness sold petrol at slightly higher rates—NIPCO at N738, SAO at N735, Akiavic at N737, and AP in Mowe, Ogun State, at N736 per litre.
Filling stations now closely monitor competitors’ prices to avoid losing customers, as motorists increasingly flock to outlets offering the lowest rates. Retailers directly supplied by Dangote have successfully matched MRS prices, while some independent stations, such as Heyden, continued to sell petrol at N780 per litre.
