Nigerians Expect Cheaper Fuel As Landing Cost Drops Again, Lower Than That of Dangote Refinery

• Nigerians can expect another drop in the pump price of fuel as marketers have rushed to import 156 million litres
• This is because of a major drop in the landing costs of the product, and it is now cheaper than Dangote Refinery
• The competition between importers of fuel and the Dangote Refinery continues to trigger more price drops, week after week

Legit.ng journalist Ruth Okwumbu-Imafidon has over a decade of experience in business reporting across digital and mainstream media.

Nigerians can breathe another sigh of relief as filling stations will soon adjust pump prices again to sell fuel at lower prices.

As international oil prices experience fresh volatility in the wake of the ongoing price war, the landing cost of imported fuel has dropped again.

Checks show that after factoring in all the costs, the unit landing cost of imported fuel is down to N853 per litre, as of Tuesday, April 15.

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Petroleum marketers have seized the opportunity to import 156,897,000 litres of Premium Motor Spirit (PMS) within eight days.

Separate documents from the Major Energies Marketers Association of Nigeria and the Nigerian Port Authority (NPA) confirm the numbers.

Dangote resumes naira sale of fuel, diesel

After almost two weeks of selling petroleum products in dollars, the Dangote Refinery started selling in naira again.

This change immediately brought down the loading cost to N865 from almost N1,000 per litre, bringing relief to Nigerians.

As of last week, the price from the Dangote Refinery was lower than that of imported fuel, but that has changed.

Imported fuel cheaper than Dangote Refinery fuel

At N853 per litre, the landing cost of imported fuel is now N12 cheaper than the loading cost offered by Dangote Refinery.

This is the second price drop this week, down from N856.75 on Monday to N853 on-the-spot sales price on Tuesday.

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Dealers say that this price factors in all expenses, including import duties, exchange rates, and shipping.

Marketers rush to import 156 million litres

As the price drop continues, marketers are rushing to purchase more stock. Documents from the NPA show that about 156 million litres of fuel have landed at the Tincan port in Lagos and the Calabar port in Cross River State.

On Tuesday, April 8, 2025, the first shipment of 21,000 metric tonnes of Premium Motor Spirit (PMS), assigned to Peak Shipping Agency, arrived at the KLT Phase 3A terminal at midnight, according to The PUNCH.

This was followed by the arrival of another vessel, the 20,000 metric-tonne SL Aremu, which docked at the same terminal on Wednesday, April 10, at midnight. The ship was managed by the Tiger Shipping maritime agent.

Two days later, on Saturday, April 12, a ship named Fatima Sarah, operated by Dozzy Oil and Gas, arrived at the Calabar port in Cross River State with 15,000 metric tonnes of imported petrol.

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On Monday, April 14, at 3:20 PM, a vessel carrying another 20,000 metric tonnes of fuel docked at the Tincan port, with Peejay Shipping designated as its handling agent.

Additionally, two vessels carrying a total of 41,000 metric tonnes of fuel are set to dock at the KLT Phase 2 terminal at midnight on Tuesday, April 15, and Wednesday, April 16.

Combined, 117,000 metric tonnes of fuel will have entered Nigeria within eight days, converting to about 156.9 million litres.

Some filling stations yet to adjust pumps

Despite the recent significant drop in petrol prices by the Dangote Refinery and NNPC Limited, many filling stations have not yet adjusted their prices.

As of the time of reporting, most filling stations across Nigeria have yet to adjust their pump prices, with some stations still selling a litre of petrol (PMS) for as high as N990 in certain areas.

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In Kano, for instance, some independent stations were selling petrol for N990 per litre, while stations operated by NNPC and MRS had prices set at N945 per litre.

In Maiduguri, Borno State, the price ranged between N950 and N980 per litre. In the capital city, Abuja, NNPCL was selling petrol at N950 per litre, while other major stations were charging between N955 and N960.

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has expressed mixed reactions to the recent price reduction, welcoming the move but cautioning that such changes should not be arbitrary.

Petrol marketers predict more price drops

In related news, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) says Nigerians will see more price drops in petroleum products.

They noted that this is part of the benefits of falling global crude oil prices, and the Dangote Refinery’s decision to slash ex-depot price to N865 per litre.

Read also

Again, Dangote Refinery slashes petrol price, this time by N30

The retailers predicted that prices will come down more soon, and it will become a competition of who offers the best price to Nigerians.

This article has been updated by head of business desk, Victor Enengedi, with additional information.

Proofreading by James Ojo, copy editor at Legit.ng.

Source: Legit.ng