Marketers Unveil New Petrol Landing Cost as Dangote, Depots Slash Rates Nationwide

• Imported petrol costs ₦68.67 more per litre than Dangote Refinery’s reported gantry price, according to MEMAN’s latest figures
• Depot operators cut petrol and diesel prices across Lagos, while Warri, Port Harcourt and Calabar also recorded reductions
• Lower wholesale prices could ease costs for Nigerians, but pump prices will depend on transport, distribution and marketers’ margins

Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.

Nigeria’s downstream petroleum market is witnessing a fresh wave of price reductions as the Dangote Petroleum Refinery and major depot operators intensify competition, putting pressure on fuel importers.

Fresh figures released by the Major Energies Marketers Association of Nigeria (MEMAN) show that imported petrol remains more expensive than products supplied by the Lekki-based Dangote Refinery.

According to MEMAN's latest data, the petrol import parity price stood at ₦1,253.80 per litre, compared with Dangote Refinery’s reported gantry price of ₦1,185.13 per litre as of October 30, 2026.

The figures indicate a difference of ₦68.67 per litre, giving locally refined petrol a significant price advantage over imported supplies.

The development comes amid repeated price adjustments by Dangote Refinery and its marketing partners, raising expectations of further reductions across Nigeria's fuel distribution network.

New petrol landing cost pressures importers

The widening price difference between imported and locally refined petrol could pose fresh challenges for fuel importers struggling to remain competitive.

Industry observers believe marketers relying heavily on imported petrol may face shrinking profit margins as domestic suppliers offer increasingly competitive prices.

However, the MEMAN import parity figure is a benchmark rather than a confirmed transaction price for every importer, meaning actual costs may vary.

The latest figures also suggest that the growing influence of domestic refining could reshape pricing decisions across Nigeria's deregulated petroleum market.

Lagos depots announce major petrol reductions

Earlier findings by Legit.ng showed that petrol depot prices declined significantly between Monday, October 26, and Friday, October 30, 2026.

According to PetroleumPriceNG, Lagos recorded the biggest reductions, with average petrol prices falling by ₦81.67 per litre.

African Terminal and Ardova reduced their prices from ₦1,340 to ₦1,260 per litre, representing an ₦80 reduction.

Aiteo announced a steeper ₦85 cut, bringing its price down from ₦1,340 to ₦1,255 per litre.

These adjustments placed the average petrol price across the three Lagos depots at ₦1,258.33 per litre.

The reductions followed an earlier ₦55 price cut by marketers linked to Dangote Refinery, which brought their reported gantry price to ₦1,210 per litre on October 30.

Diesel prices fall across Lagos depots

Diesel prices also declined, potentially easing operating costs for businesses dependent on generators, transportation and industrial equipment.

Rain Oil and Wosbab reduced their diesel prices by ₦95 to ₦1,805 per litre.

Similarly, Integrated, African Terminal, Gulf Treasure and Duport lowered their prices by ₦90 to ₦1,810 per litre.

The reported average diesel price in Lagos consequently settled at ₦1,808.75 per litre.

Warri, other cities record fresh cuts

In Warri, Delta State, Matrix reduced its petrol price by ₦52 to ₦1,300 per litre.

Parker followed with a ₦50 reduction, while Prudent slashed its price by ₦55, bringing both operators' rates to ₦1,300 per litre.

The average reduction across the three depots stood at ₦52.33 per litre.

Port Harcourt and Calabar also recorded downward price adjustments, although specific reductions were unavailable.

What lower prices mean for Nigerians

The sustained wholesale price reductions could eventually translate into cheaper petrol at filling stations, offering relief to motorists, transport operators and businesses.

However, retail prices will still depend on transportation costs, distribution margins and individual marketers' pricing decisions.

For consumers, the biggest question remains whether the growing competition among suppliers will deliver meaningful savings at the pump.

Depot owners release new rates nationwide

Legit.ng earlier reported that Nigeria’s downstream petroleum market is witnessing fresh competition as depot owners release new petrol prices across major cities, with Dangote Refinery maintaining a significantly lower ex-gantry price.

The latest figures show considerable differences between depot prices in Lagos, Warri, Calabar and Port Harcourt, raising questions about how the widening price gap could affect fuel marketers and motorists.