The Major Energies Marketers Association of Nigeria (MEMAN) disclosed that the landing cost of imported petrol has risen, and now averages about N870 per litre.

This increase places the marketers in a tight position as the price is already higher than the N835 per litre offered by the Dangote Refinery, giving them no margin to even sell at a break-even price.

Between April 28 and 29, 2025, the product's landing cost ranged between N872 and N868 per litre, which was also higher than the Dangote Refinery price.

Recall that on April 23, when Dangote Refinery announced an ex-depot price of N835 per litre, the landing cost was already averaging N859 per litre.

With the consistent increase in landing costs since then, petroleum marketers find themselves in a challenging position, unable to sell at a profit.

Recall that the temporary suspension of the naira-for-crude deal gave petroleum importers room to raise PMS price by almost N100 from N860 to N950.

Since the return of the naira-for-crude policy, Dangote Refinery has announced price cuts week after week.

The landing cost of imported fuel dropped briefly, about N12 below Dangote Refinery price, but the refinery responded quickly with another price cut.

Several importers told the PUNCH that it had negatively impacted their businesses, forcing them to sometimes sell below cost price so that they can turn over and restock at a better price.

Retailers complain of fluctuations

The National President of the Petroleum Products Retail Outlet Owners Association of Nigeria, Billy Gillis-Harry, has said that the unpredictable price changes recently have slowed down business for retailers.

He stressed the need for market forces to manage the changes well, even as the retailers try to deal with the challenges and provide energy to Nigerians.

Gillis-Harry commended the government for deregulating the industry and noted that things will stabilise in time, benefiting both consumers and retailers.

Marketers warn of looming losses as Dangote Refinery slashes price
Following the return of the naira-for-crude deal ordered by the Nigerian government, the Independent Petroleum Marketers Association of Nigeria (IPMAN) warned oil dealers and importers against pending losses.

Legit.ng reported that this warning came after another independent marketer, SGR, crashed petrol prices to N899 per litre at its filling stations.

The marketers warned that price cuts from the different players could result in a precarious situation, and advised the importers to make purchases carefully, to avoid being stuck with products they cannot sell.