The price drop in global crude price made fuel import costs fall to N774.82 per litre, according to MEMAN’s data.

 Fuel landing cost drops to N774/litre.


The landing cost of premium motor spirit dropped to N774.82 per litre, cheaper than the ex-depot price of Dangote Refinery’s fuel, which stood at N825 per litre.


This is according to the latest competency centre daily energy data released by the Major Energies Marketers Association of Nigeria on Tuesday.


Data from MEMAN indicates that estimated import parity into tanks has reduced to N774.82 per litre, a reduction of N152.56 or 16.5 percent from the N927.48 per litre quoted on February 21, 2025 regarding petrol.


The development comes as global oil price drop persists.


For instance, Brent Crude lowered to $70 and US WTI $66.70 as of Wednesday morning, 12 March, 2025, compared to around $76 and $69 in February.


The price drop in global crude price made fuel import costs fall to N774.82 per litre, according to MEMAN’s data.


This means fuel price may drop further to around N800 per litre, down from the lowest retail prices of N860 and N880 per litre in Lagos and Abuja in the coming days.



Recall that in the beginning of March and last month, the Nigerian National Petroleum Company Limited and Dangote Refinery reduced their petrol retail prices to N860 and N880 per litre in Lagos and Abuja.


The latest drop in fuel import landing cost will further aggravate the price war between Dangote Refinery, NNPC, and fuel importers.

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