Fresh data shows bringing petrol into Nigeria now costs more than buying from the local Dangote Refinery, strengthening calls to halt fuel imports
The landing cost of imported Premium Motor Spirit (PMS), also known as petrol, has risen above the Dangote Refinery’s gantry price.
This was shown in the latest Energy Bulletin released by the Major Energies Marketers Association of Nigeria (MEMAN), Industry Competency Centre.
According to the data, the spot landing cost of petrol stood at N1,223.32 per litre as of July 29, 2026. This is higher than the Dangote refinery’s gantry price of N1,215 per litre, meaning imported petrol currently costs marketers more than supplies sourced from the 650,000-barrels-per-day Lekki-based refinery.
The development comes days after the Independent Petroleum Marketers Association of Nigeria (IPMAN) renewed its call for an end to petrol importation, arguing that local refining capacity is sufficient to meet the country’s fuel demand.
IPMAN urged the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to urgently review recently issued import licences, arguing that the arrangement is proving counterproductive.
According to the association, some companies granted import licences are pegging their prices at around N1,350 per litre – a figure far higher than what Dangote Refinery sells to marketers.
Currency Pressures and Market Dynamics
The MEMAN’s Energy Bulletin showed that Brent crude averaged $90 per barrel during the review period, while the naira traded at an average of N1,367.03 to the dollar. Both factors contributed to the rising cost of imported refined products.
IPMAN has linked the pressure on foreign exchange to the depreciation of the naira, noting that fluctuations in the exchange rate were contributing to higher petrol prices nationwide.
The association estimates that landing costs for imported petroleum products are about 20 per cent higher than what Dangote Refinery charges, making the import arrangement economically unsound.
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A Turning Point for Nigeria’s Downstream Sector
The pricing shift represents a significant moment for Nigeria’s downstream petroleum sector. For decades, the country relied heavily on fuel imports, but the emergence of the Dangote Refinery as a major domestic supplier is reshaping market dynamics.
The refinery had temporarily suspended naira-based sales in mid-July due to challenges with the government’s naira-for-crude arrangement, but recently resumed gantry loading in naira at the revised price of N1,215 per litre, about N140 higher than the previous gantry price of N1,075 per litre.
Analysts note that one major gain Nigeria has recorded from local refining is a continuous and uninterrupted supply of petroleum products, which is something the country struggled with in the past when it depended heavily on imports.
“If we are having continuous and uninterrupted supply, our problem is pricing. Is it not better we sit down and see how this issue can be controlled, than signing unnecessary import licences that will further inflate the price of petroleum products in our country?” IPMAN national publicity secretary, Chinedu Ukadike, asked.
NMDPRA Factsheet for June, released recently, revealed that petrol imports jumped by 207 per cent in June from 5.9 million litres per day in May to 18.1 million litres in June 2026.
For Nigeria’s downstream sector, the latest pricing data could intensify the debate over the future of petrol imports, with marketers increasingly pressing for a stronger focus on domestic production.
Victor Ezeja is a Nigerian journalist skilled in producing insightful news analyses, feature stories, and interviews that simplify complex issues and drive informed public discourse. His work combines rigorous research, balanced reporting, and compelling storytelling to highlight developments shaping industries and society. Victor, who holds a Master's Degree in Mass Communication, specializes in energy, aviation, business, and economic reporting. He can be reached via @VICTOREZEJA on X