Fuel Marketers Plan Cheaper Imports as Dangote, NNPCL Petrol Prices Hit N1,015-N1,028 Per Litre
Oil marketers announced on Friday that petrol from Dangote Petroleum Refinery is priced between N1,015 and N1,028 per litre, depending on purchase quantity. In response, marketers are planning to import petrol to sell below Dangote’s and the Nigerian National Petroleum Company Limited’s (NNPCL) rates.
As of October 31, 2024, data from the Major Oil Marketers Association of Nigeria shows the landing cost of petrol at N978.01 per litre, while diesel and aviation fuel were at N1,069.97 and N1,119.67 per litre, respectively.
Despite calls for transparency, Dangote Refinery has not disclosed its petrol prices. A source among major marketers confirmed that bulk buyers pay N1,015 per litre, while smaller quantities are sold at N1,028. Meanwhile, recent fuel imports are reportedly cheaper than Dangote’s prices, sparking calls for more affordable alternatives.
PETROAN’s Import Plan for Cheaper Fuel
The Petroleum Retail Outlet Owners Association of Nigeria (PETROAN) is now seeking to offer petrol at prices below both Dangote and NNPCL. PETROAN Publicity Secretary, Dr. Joseph Obele, shared that their partnership with international suppliers aims to import petrol at around N800 per litre, pending regulatory approval.
“PETROAN will sell below NNPCL and Dangote. Right now, NNPCL charges N1,040 per litre; we will offer a better rate once we receive import authorization,” Obele stated.
Obele explained that falling international crude prices have reduced the landing cost of imported PMS to about N978 per litre, while Dangote’s rates reflect the cost of older crude stocks. PETROAN has partnered with foreign suppliers to ensure Nigerians access affordable fuel as soon as regulatory approvals are in place.
Dangote Group’s Response to Pricing Claims
When approached, Dangote Group’s Chief Corporate Communications Officer, Tony Chiejina, dismissed reported price figures as “fake news” and did not confirm specific pricing details.
