The landing cost of imported Premium Motor Spirit (petrol) has fallen below the gantry price set by the Dangote Petroleum Refinery, following the refinery’s recent price adjustment, The PUNCH reports.
According to data from the Major Energies Marketers Association of Nigeria, the landing cost of imported petrol stood at ₦728.88 per litre last week. Meanwhile, the Dangote refinery increased its gantry price from ₦699 to ₦799 per litre on Monday night, making its petrol roughly ₦70 more expensive than imported PMS.
Following the new price announcement, MRS retail stations raised pump prices from ₦739 on Monday to ₦839 per litre on Tuesday, as confirmed by reporters. The 650,000 barrels-per-day Lekki refinery explained that the realignment was intended to return prices to sustainable levels after the festive season, supporting long-term market stability and affordability.
The refinery stated that during the Yuletide, it had temporarily absorbed costs to ease household spending, a practice it also implemented in 2024. Despite the reductions, some filling stations did not adjust pump prices, limiting the benefit to consumers.
David Bird, CEO of Dangote Petroleum Refinery, reaffirmed that the company continues to supply around 50 million litres of PMS daily, with nationwide distribution running normally. He added that the refinery’s flexible design allows it to process a wide variety of crude and intermediate feedstocks, ensuring uninterrupted petrol supply even during maintenance periods.
“As a domestic producer, Dangote Petroleum Refinery continues to shield Nigeria from import-related price swings and external supply disruptions, while stabilizing the downstream sector. We remain focused on energy security, price stability, and delivering long-term value to Nigerians,” the company said.
Before the price adjustment, imported petrol had been trading above Dangote’s ex-depot price of ₦699, making it hard for importers to compete with MRS filling stations. In December, Dangote had reduced gantry prices by ₦129 to keep retail rates below ₦740 during the festive season and discourage importation.
The National President of the Petroleum Products Retail Outlet Owners Association, Billy Gillis-Harry, suggested that Dangote’s price moves were aimed at dominating the market, urging regulators to ensure fair competition. Dangote, however, has repeatedly denied monopoly claims, emphasizing that importation while his tanks were full undermined market stability.
It remains unclear whether independent importers will now sell petrol at rates lower than Dangote’s adjusted price of ₦839 per litre.
