Imported Petrol Now Costs More Than Dangote Fuel – Report
The landed cost of imported Premium Motor Spirit (PMS), also known as petrol, has risen above the ex-depot price offered by the Dangote Petroleum Refinery, according to the latest Energy Bulletin released by the Major Energies Marketers Association of Nigeria (MEMAN).
The report showed that as of July 29, the landed cost of imported petrol stood at ₦1,223.32 per litre, exceeding the Dangote Refinery’s gantry price of ₦1,215 per litre. This means petroleum marketers now pay more to import fuel than to source it locally from the 650,000-barrels-per-day Lekki refinery.
The development has strengthened calls by the Independent Petroleum Marketers Association of Nigeria (IPMAN) for the Federal Government to end petrol importation and rely on local refining. IPMAN said Nigeria’s existing refining capacity, particularly that of the Dangote Refinery, is sufficient to meet domestic demand.
The association argued that continued fuel imports put unnecessary pressure on foreign exchange, weaken the naira and discourage investment in local refining. The MEMAN report also revealed that Dangote’s coastal PMS price stood at ₦1,195 per litre, while Brent crude averaged $90 per barrel and the naira traded at an average of ₦1,367.03 to the dollar during the review period.
The report further indicated that rising global crude prices pushed up the cost of other petroleum products, with diesel landing at ₦1,739.96 per litre and aviation fuel at ₦1,616.43 per litre. The pricing trend suggests that locally refined petrol remains the more cost-effective option for marketers compared to imported supplies.

