The landing cost of imported petrol has dropped to ₦839.97 per litre as of October 21, 2025, making it cheaper than the Dangote Refinery’s locally refined fuel, which currently sells at ₦877 per litre.
Data from the Major Energy Marketers Association of Nigeria (MEMAN) latest energy bulletin shows a marginal decline from the ₦841.54 per litre recorded on October 20, underscoring growing competition within Nigeria’s fully deregulated downstream petroleum sector.
Confirming the development, the spokesperson of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, said the reduction in petrol landing cost was a natural outcome of market liberalisation, which allows marketers to seek cheaper fuel sources to remain competitive.
“It is due to the liberalisation of the sector, which has set the tune for a price war. Marketers now have the option to buy either at ₦877 per litre with Dangote Refinery or ₦839 with MEMAN,” Ukadike told Daily Post on Friday, October 24.
He explained that the price gap between imported and locally refined petrol was already influencing buying decisions among marketers, who prefer sourcing from cheaper suppliers to reduce retail pump prices and attract customers.
Further checks revealed that the latest ex-depot prices for major importers such as Emedab, Gulf Treasure, Ardova, and Bono Energy averaged ₦875 per litre, while Dangote Refinery’s ex-depot price remains at ₦877 per litre.
With importers now selling below the Dangote benchmark, analysts believe this could lead to downward adjustments in retail prices across the country, especially in urban centres where multiple suppliers compete.
Pump Prices Still High at Filling Stations
Naijaonpoint understands that despite the reduction in landing cost, retail pump prices have yet to reflect the change.
As of Friday (today), journalists who went around observed that NNPC, MRS, Ranoil, TotalEnergies, and Emedab filling stations in Abuja were still dispensing petrol at ₦950-₦965 per litre, depending on the outlet and location.
It is believed that this delay is due to logistics costs, exchange rate fluctuations, and old stock inventories yet to be replaced with the cheaper imports. The growing price competition between importers and the Dangote Refinery could trigger a gradual reduction in pump prices if sustained.
The development also highlights the impact of market forces in Nigeria’s deregulated fuel market, where price parity is influenced by international crude benchmarks, shipping costs, exchange rate movements, and local refining capacity.
Naijaonpoint reports that the Dangote Refinery, which began limited operations earlier in 2025, has been under pressure from imported fuel cargoes arriving at competitive prices, especially from European and Middle Eastern suppliers.
While the refinery initially enjoyed first-mover advantage as Nigeria’s sole large-scale local producer, the continued importation of cheaper products by MEMAN members has sparked what insiders describe as a “healthy price war.”
With both local and imported fuel now competing on price, petroleum marketers are expected to begin gradual price adjustments once older stock is cleared.
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