The landing cost of imported petrol in Nigeria has fallen below the gantry price of the commodity from the Dangote Petroleum Refinery, following a recent price adjustment by the domestic refiner, industry sources said.
Data from the Major Energies Marketers Association of Nigeria show that the landing cost of imported Premium Motor Spirit (PMS) was N728.88 per litre last week. On Monday night, the Dangote refinery announced an increase in its gantry price from N699 to N799 per litre, creating a gap of roughly N70 between the cost of imported petrol and the refinery’s ex-depot price.
Following the announcement, Dangote-owned MRS filling stations raised retail prices to N839 per litre, up from N739 the previous day, Reuters checks confirmed.
In a statement, the refinery said the price adjustment was intended to “realign petrol prices modestly” after the festive period, supporting long-term market stability and affordability. The company said it had implemented temporary price reductions during the Yuletide to ease household spending, marking the second consecutive festive season with deliberate interventions.
“Despite the price reduction, many filling stations failed to reflect the new price at the pump, thereby denying Nigerians the benefits of the reduction. With the festive period concluded, PMS prices have been modestly realigned to sustainable levels,” the refinery said.
Dangote Petroleum Refinery CEO David Bird said the facility continues to supply about 50 million litres of PMS daily across Nigeria, with distribution and nationwide evacuation operating normally. He highlighted the refinery’s design flexibility, which allows it to process a wide range of crude and intermediate feedstocks, ensuring uninterrupted supply even during planned maintenance activities.
“As a domestic producer, Dangote Petroleum Refinery continues to shield the Nigerian market from import-related volatility and external supply disruptions, while remaining a stabilising force in the downstream petroleum sector,” the statement added.
The recent adjustment follows a period when imported petrol prices had consistently remained above Dangote’s ex-depot price, limiting opportunities for foreign suppliers to compete. When the Dangote Group cut the gantry price by N129 in December, it was intended to keep retail prices below N740 during the festive season and discourage importation, company sources said.
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Dangote has previously criticised the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for issuing import licences while his tanks were full, arguing that imports amid abundant domestic supply amounted to economic sabotage. Official data show that imported petrol volumes fell from 52.1 million litres per day in November to 42.2 million litres per day in December, while Dangote’s supply increased from 19.5 million litres to 32 million litres daily over the same period.
Some industry players have raised concerns about market dominance. Billy Gillis-Harry, president of the Petroleum Products Retail Outlet Owners Association of Nigeria, said Dangote’s interventions aimed to consolidate market control and appealed for a level playing field for all stakeholders.
Dangote has repeatedly denied monopolistic intentions, emphasising that he has never prevented others from building refineries, but maintains that importing petrol when domestic supply is sufficient undermines market stability.
