The Digest:
The landing cost of imported petrol has fallen to ₦839.97 per litre, undercutting the Dangote Refinery's price of ₦877 per litre. This development, confirmed by industry associations, signals increased price competition in Nigeria's newly liberalized downstream petroleum sector.
Key Points:
- Imported petrol landing cost dropped to ₦839.97/litre as of October 21.
- Dangote Refinery's petrol sells for ₦877/litre, making imports cheaper.
- The price decrease reflects growing competition in a deregulated market.
- Marketers now have options between Dangote and MEMAN pricing.
- Industry experts predict potential retail price reductions nationwide.
- Current retail prices in Abuja range between ₦950-₦965/litre.
- The shift demonstrates early effects of downstream sector liberalization.
Sources: Daily Post
