Petrol Import Prices Fall Below Dangote's Rate in Nigeria

As of September 1, 2026, the landing cost of imported Premium Motor Spirit (PMS), known as petrol, is approximately N1,239 per litre, which is N26 lower than the ex-gantry price of N1,265 per litre set by Dangote Refinery. This shift is attributed to improved conditions for importing refined petroleum products, despite rising international crude oil prices potentially exerting upward pressure on petrol prices.

The Major Energy Marketers Association of Nigeria (MEMAN) reported an import parity rate of N1,339.40 per dollar, while depot prices in Lagos averaged N1,270 per litre and N1,285 in Warri. The Independent Petroleum Marketers Association of Nigeria (IPMAN) indicated that filling stations in Abuja are preparing to review their prices as new supplies arrive.

IPMAN National Publicity Secretary Chinedu Ukadike stated that the timing of any price adjustments remains uncertain, depending on when new products become available. The overall outlook for petrol prices remains uncertain due to fluctuating global crude oil prices.