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MEMAN data showed the landed cost of imported petrol has increased, exceeding Dangote Refinery’s gantry priceHigher Brent crude prices and a weaker naira drove up the cost of bringing refined fuel into Nigeria as of July 29IPMAN renewed its call for the federal government to stop issuing petrol import licences, citing the cost advantage of local refining
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 cost of importing petrol into Nigeria has risen above what the Dangote Petroleum Refinery charges for locally refined fuel, according to new figures from the Major Energies Marketers Association of Nigeria (MEMAN).
MEMAN’s latest data, covering the period to July 29, put the spot landed cost of imported Premium Motor Spirit at N1,223.32 per litre.
Imported petrol now costs more than Dangote Refinery fuel Photo: BloombergSource: Getty Images
That figure exceeds
