Petrol Landing Cost Drops to N1,283.81/Litre, Still Above Pump Prices

The landing cost of imported Premium Motor Spirit (PMS), popularly known as petrol, has dropped slightly to N1,283.81 per litre from N1,292.88 per litre, according to the latest energy bulletin released by the Major Energies Marketers Association of Nigeria (MEMAN).  

According to a report by Vanguard on Thursday, October 22, 2026, the marginal decline comes despite a small rise in Brent crude prices, which edged up to $108.90 per barrel from $108.80.

MEMAN’s report shows that the current landing cost is N66.19, or about 4.9 per cent, lower than the Dangote Refinery’s gantry price of N1,350 per litre. Similarly, imported petrol costs remain between N64.19 and N74.19 per litre below the ex-depot prices of N1,348 to N1,358 quoted by depot owners.  

Despite this reduction, pump prices across the country remain elevated. Motorists in Lagos and Abuja are reportedly paying between N1,370 and N1,429 per litre at filling stations.

The gap between landing costs and retail prices reflects additional expenses across the supply chain, including transportation, storage, and retail margins.  

This development comes as the Federal Government considers a 30-day petrol discount initiative at NNPC Limited filling stations.

Finance Minister Taiwo Oyedele had earlier proposed that petrol be sold at N1,350 per litre under the scheme. However, as of the time of reporting, the discount has yet to be implemented.  

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