Petrol landing cost remains steady at N976/litre

For the third consecutive day, the landing cost of petrol in Nigeria has held firm at approximately N976 per litre, according to recent figures from the Major Energies Marketers Association of Nigeria (MEMAN).

This stability, calculated using an exchange rate of N1,672.28 per dollar, reflects a spot landing cost of N952.69/litre and a 30-day average landing cost of N976.73 per litre.

MEMAN’s data highlights that the total landing cost comprises various elements, including finance charges applied at an annual rate of 32 percent over a 30-day period, alongside freight charges spanning 10 days, and Nigerian Ports Authority (NPA) fees for services like mooring and towage.

The stability extends across other fuels, with diesel (Automotive Gas Oil) landing at N1,082 per litre and aviation fuel (Aviation Turbine Kerosene) at N1,137 per litre, maintaining consistent levels over recent days.

This steadiness in landing costs indicates a period of relative calm in Nigeria’s volatile fuel import market.

Faith Esifiho

Faith Esifiho is an Energy correspondent at BusinessDay, covering Nigeria's electricity sector, oil and gas industry, and energy policy. She reports on power outages, electricity tariffs, gas sector reforms, and the broader challenges facing the country's energy transition. She specializes in data-led reporting and human-angle stories that examine how energy policies affect everyday Nigerians and also tracks trends in the power sector, analyses regulatory changes, and investigates the impact of subsidy reforms and pricing policies.