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Major marketers revealed that imported petrol landed at N1,191.16 per litre as of July 27, 2026, undercutting Dangote Refinery’s priceThe price gap emerged amid sharp swings in global crude oil, which fell 7% on July 28 before rebounding IPMAN had asked the federal government to stop issuing import licences, arguing that local refinery products were cheaper
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Imported Premium Motor Spirit (PMS), commonly known as petrol, has become cheaper than supplies from the Dangote Petroleum Refinery, setting the stage for renewed competition in Nigeria’s downstream oil sector.
The latest development comes as global crude oil prices continue to experience sharp swings, driven by renewed geopolitical tensions in the Middle East and changing market fundamentals.
Importers undercut Dangote Refinery as petrol landing cost crashes by N24 per litre. Credit: NovatisSource: Getty Images
Crude oil prices rebound after sharp
