The landing cost of imported petrol has increased by N88 per litre in one week amid reports of an increase in the importation of the commodity.
This was disclosed by major oil marketers under the aegis of the Major Energies Association of Nigeria (MEMAN) in its daily energy bulletin for March 26, 2025.
The marketers said the increase was from N797 per litre last week to N885 per litre this week, a situation it said is expected in a deregulated environment.
The new landing cost is N25 higher than the N860 that end-user customers pay for Dangote petrol from MRS, AP, other partners, and the Nigerian National Petroleum Company (NNPC) Limited retail outlets.
Dangote Refinery recently announced the discontinuation of sale of petroleum products in Naira, due to the suspension of the termination of the naira-for-crude deal by the NNPC. It stated that the temporary decision is necessary to avoid a mismatch between sales proceeds and crude oil purchase obligations, which are currently denominated in U.S. dollars.
MEMAN said that those accustomed to price control in the downstream sector are resisting the changes occasioned by deregulation.
The association in a communique signed by its Chief Executive Officer, Clement Isong, at its Q1 2025 Press Training & Engagement held in Lagos, said the transition from a state-controlled system to a competitive, deregulated market is essential for fostering efficiency, transparency, and long-term economic growth.
MEMAN added that a well-functioning, deregulated market will attract more investment, improve efficiency, and create a more competitive landscape that benefits both businesses and consumers.
