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Imported petrol now costs ₦839.97 per litre, cheaper than Dangote’s ₦877.
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Pump prices remain high despite lower landing costs.
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Analysts predict gradual price drop as competition intensifies.
The landing cost of imported petrol has fallen to ₦839.97 per litre as of October 21, 2025, making it cheaper than locally refined petrol from the Dangote Refinery, which currently sells at ₦877 per litre.
According to the latest bulletin from the Major Energy Marketers Association of Nigeria (MEMAN), the new figure reflects a slight drop from ₦841.54 per litre recorded the previous day. The development underscores the intensifying competition in Nigeria’s fully deregulated downstream petroleum market.
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EKO HOT BLOG reports that c onfirming the trend, the spokesperson of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, said the drop in petrol landing cost was a direct result of market liberalisation.
“It is due to the liberalisation of the sector, which has set the tune for a price war. Marketers now have the option to buy either at ₦877 per litre with Dangote Refinery or ₦839 with MEMAN,” Ukadike explained.
He added that the widening price gap between imported and locally refined petrol was shaping marketers’ choices, as they increasingly turned to cheaper suppliers to remain competitive and attract customers.
Data also shows that the latest ex-depot prices from major importers such as Emedab, Gulf Treasure, Ardova, and Bono Energy averaged around ₦875 per litre, while Dangote Refinery’s ex-depot price remains at ₦877.
Analysts believe that the current pricing dynamics could eventually push down retail pump prices across the country, particularly in major cities where competition among suppliers is strongest.
Pump Prices Yet to Reflect Decline
Despite the reduction in landing costs, pump prices remain high. A market survey in Abuja on Friday revealed that filling stations operated by NNPC, MRS, Ranoil, TotalEnergies, and Emedab were still selling petrol between ₦950 and ₦965 per litre.
Experts attribute this delay to factors such as logistics expenses, exchange rate fluctuations, and existing stock purchased at higher prices. However, they predict that if the price competition between importers and the Dangote Refinery continues, retail prices could gradually drop once older inventories are exhausted.
The situation reflects the growing influence of market forces in Nigeria’s deregulated fuel environment, where prices are determined by global crude trends, exchange rates, and local refining output.
Since beginning limited operations earlier in 2025, the Dangote Refinery has faced pressure from imported fuel cargoes arriving at lower prices from Europe and the Middle East. While initially benefiting from being the country’s first large-scale local producer, it now faces stiff competition in what industry observers describe as a “healthy price war.”
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