By Opeyemi Adelakun
Nigeria’s estimated landing cost for imported petrol has fallen to N1,283.81 per litre, even as pump prices remain elevated in major cities.
The Major Energies Marketers Association of Nigeria (MEMAN) disclosed the latest figure in its energy bulletin, showing a decrease from N1,292.88 per litre.
The reduction came as Brent crude edged up to $108.90 per barrel from $108.80, according to the bulletin.
At the new rate, imported petrol’s landing cost is N66.19 below Dangote Refinery’s gantry price of N1,350 per litre. The figure is also lower than depot owners’ quoted ex-depot prices, which ranged from N1,348 to N1,358 per litre.
However, the lower landing cost has not translated into comparable relief for motorists. Petrol was reportedly selling for between N1,370 and N1,429 per litre at filling stations in Lagos and Abuja.
Landing cost represents the estimated expense of bringing imported petrol into the country; it does not include all costs incurred before the product reaches consumers. Transportation, storage, distribution expenses and retail margins can widen the difference between import costs and pump prices.
Meanwhile, the Federal Government’s fuel-price relief measures include an NNPC discount programme. The national oil company said its N66-per-litre discount, initially introduced for Independence Day, would remain available at its retail stations until October 31.
The offer, however, was not automatically applied to every pump transaction. It was gathered that customers in Abuja had to pay through NNPC’s mobile application to obtain the reduction, while direct pump purchases remained at the regular price at the stations visited.
NNPC also clarified that the discount applies to its retail outlets and does not create a uniform national pump price or restore the former petrol subsidy regime.
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