The landing cost of imported Premium Motor Spirit (PMS), also known as petrol, has dropped below the gantry price of petrol produced by the Dangote Petroleum Refinery following a recent price adjustment by the refinery, The PUNCH reports.
Data from the Major Energies Marketers Association of Nigeria (MEMAN) indicate that the landing cost of imported petrol stood at N728.88 per litre as of last week.
However, on Monday night, the Dangote refinery announced an increase in its gantry price from N699 to N799 per litre, creating a price difference of about N70 compared to imported PMS.
Following the adjustment, the refinery disclosed that MRS filling stations would sell petrol at N839 per litre. Checks on Tuesday confirmed that MRS outlets had raised pump prices from N739 to N839 in line with the new gantry rate from the 650,000 barrels-per-day Lekki refinery.
In a statement issued on Monday, the refinery said the price realignment became necessary as the festive period had ended. It explained that the earlier reduction was a temporary intervention aimed at cushioning Nigerians during a period of high household spending.
The company reaffirmed its commitment to market stability and uninterrupted nationwide petrol supply, recalling that it had absorbed high costs during the festive season in the national interest. It noted that this marked the second consecutive festive period it intervened, providing logistics support in 2024 and implementing a price reduction in 2025.
“Despite the price reduction, many filling stations failed to reflect the new price at the pump, thereby denying Nigerians the benefits. With the festive period concluded, PMS prices have been modestly realigned to sustainable levels to support long-term market stability and affordability,” the statement said.
Under the new pricing structure, the refinery confirmed that its PMS gantry price is N799 per litre, while MRS retail outlets are selling at N839 per litre.
The Chief Executive Officer of Dangote Petroleum Refinery, David Bird, said the facility currently supplies about 50 million litres of PMS daily to the domestic market, with evacuation and nationwide distribution running smoothly.
He added that the refinery’s flexible design allows it to process different crude and intermediate feedstocks, ensuring stable PMS supply even during planned maintenance activities.
“As a domestic producer, Dangote Petroleum Refinery continues to shield the Nigerian market from import-related volatility and external supply disruptions, while remaining a stabilising force in the downstream petroleum sector,” the statement concluded.
Before the latest adjustment, the landing cost of imported petrol had remained higher than Dangote’s ex-depot price of N699 per litre, making it difficult for importers to compete with Dangote-backed MRS stations.
In December, Dangote Group President, Aliko Dangote, slashed petrol prices by N129 to ensure Nigerians bought fuel below N740 per litre during the Yuletide, a move he said was also aimed at discouraging importation.
Dangote had accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of issuing import licences when his tanks were full, while marketers complained of losses following the price crash.
NMDPRA data showed that petrol import volumes dropped from 52.1 million litres per day in November to 42.2 million litres per day in December, while Dangote’s supply rose from 19.5 million litres to 32 million litres per day within the same period.
Sources within the Dangote Group said the December reduction was purely seasonal, stressing that the latest adjustment only returned prices to market realities.
On his part, the National President of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, argued that Dangote reduced PMS prices to edge out competitors. He warned that Nigerians would better understand the implications once Dangote becomes the dominant supplier, calling for a level playing field for all stakeholders.
Dangote has repeatedly denied monopoly claims, insisting he has never stopped anyone from building refineries, but maintained that importing petrol when local tanks are full amounts to economic sabotage.
It remains unclear whether petrol importers will now sell PMS at prices lower than Dangote’s.
