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MEMAN data shows the estimated import cost of petrol has risen far above Dangote Refinery’s ex-depot priceHigher global crude prices and foreign exchange costs continue to increase the landing cost of imported fuelThe price gap strengthens the competitiveness of locally refined petrol and could discourage fresh fuel imports
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The estimated cost of importing petrol into Nigeria has climbed significantly above Dangote Petroleum Refinery’s ex-depot price, highlighting the growing cost advantage of locally refined fuel.
The latest Energy Bulletin released by the Major Energies Marketers Association of Nigeria (MEMAN) showed that the estimated import parity price of Premium Motor Spirit (PMS), also known as petrol, stood at N1,365.19 per litre as of Monday, August 3.
Imported petrol becomes less competitive as higher landing costs Photo: AFPSource: Getty Images
The figure is
