Nigeria's Petrol Landing Cost Hits N1,348.19 per Litre

Nigeria's petrol landing cost has increased to N1,348.19 per litre, as reported by the Major Energies Marketers Association of Nigeria (MEMAN) on October 12, 2026. This rise is attributed to renewed concerns over global oil supply disruptions and fluctuations in international petroleum prices.

The spot estimated import parity price at the ASPM jetty in Apapa surpassed its 30-day average of N1,329.82 per litre, while the landing cost at the NPSC-NOJ jetty was recorded at N1,347.10 per litre, also exceeding the monthly average. The increase coincides with heightened geopolitical uncertainty due to military strikes, raising concerns about potential crude oil supply disruptions.

Additionally, factors such as international crude prices, shipping costs, insurance premiums, and foreign exchange rates significantly influence the cost of importing refined petroleum products into Nigeria. The seven-day average estimated import parity price for petrol was noted at N1,300.94 per litre, indicating that the latest spot price at the ASPM jetty was N47.25 higher than this average.