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The landing cost of imported petrol climbed by nearly N48 per litre within six days, new MEMAN data showedHigher Brent crude prices, a 25% surge in shipping rates, and a weaker naira drove the increase in import costsDespite rising depot prices across Lagos, Port Harcourt, and Warri, Nigeria retained the lowest petrol retail price in West Africa
The cost of importing Premium Motor Spirit (PMS) into Nigeria has surged to N1,182.50 per litre, driven by a combination of climbing crude oil prices, sharply higher ocean freight rates, and renewed pressure on the naira, according to data from the Major Energies Marketers Association of Nigeria (MEMAN).
Successive energy bulletins from MEMAN showed that the estimated import parity price moved from N1,134.72 per litre on July 9 to N1,182.50 per litre by July 15, a rise of N47.78 per litre in just six days.
Petrol landing cost jumps by N48 per litre in six
