Petrol Landing Cost Drops to ₦1,283/Litre as Depot Prices Remain High

According to Daily Post, published on October 21, 2026, the landing cost of imported petrol has fallen to ₦1,283.81 per litre, while depot prices remain between ₦1,348 and ₦1,358 per litre.

Figures from the Major Energies Marketers Association of Nigeria (MEMAN) showed that the landing cost declined from ₦1,292.88 to ₦1,283.81 per litre. This represents a reduction of ₦9.07 per litre.

Despite the lower landing cost, Dangote Refinery’s gantry price stood at ₦1,350 per litre, according to the report. Depot owners were selling petrol at prices ranging from ₦1,348 to ₦1,358 per litre.

The MEMAN bulletin also recorded international crude oil prices, with Brent crude at $110.70 per barrel and West Texas Intermediate at $99.90 per barrel at the time of reporting.

Meanwhile, petrol pump prices in Abuja and its surrounding areas ranged from ₦1,370 to ₦1,429 per litre, according to Daily Post. The figures show the different price levels reported across the petrol supply chain, from the landing cost to depot and retail prices.

The development comes amid discussions about possible measures to ease the cost of petrol for consumers. On October 8, 2026, Finance Minister Taiwo Oyedele proposed a 30-day petrol discount at Nigerian National Petroleum Company Limited (NNPCL) filling stations.

Under the proposal, petrol would be sold at ₦1,350 per litre at participating NNPCL stations. However, Daily Post reported that the proposed discount had not been implemented at the company’s filling stations as of October 21.

The latest landing-cost figures provide an update on the cost of imported petrol, while the reported depot and pump prices indicate what suppliers and motorists were facing at the time of the report.

Whether petrol prices at filling stations will decline further remains uncertain, as the report does not confirm any subsequent reduction in retail prices.