Imported petrol undercuts native provide by N94

The touchdown value of imported petrol is N94.53 cheaper than the home gantry worth, in keeping with a report by the Main Energies Entrepreneurs Affiliation of Nigeria.

This got here as over 156 million litres of petrol arrived in Nigeria inside the

In its newest weekly report, MEMAN disclosed that the touchdown value of imported petrol as of March 16, 2026, stood at N1,080.47 per litre, whereas the home gantry worth was N1,175 per litre, reflecting a N94.53 distinction. Entrepreneurs mentioned the value hole might incentivise importation.

Nonetheless, domestically equipped diesel was N46 cheaper than the imported one, in keeping with the report. Whereas imported diesel landed at N1,546.12, domestically produced diesel offered for N1,500 on the Lagos gantry.

As Nigerians grappled with excessive petrol costs, six vessels carrying 120,000 metric tonnes of Premium Motor Spirit (petrol) and Automotive Gasoline Oil (diesel) had been arriving at Nigerian ports from Tuesday to Sunday.

This was based mostly on the Nigerian Ports Authority’s Every day Delivery Place obtained by The PidomNigeria on Wednesday. In keeping with the report, a vessel named LAUSU discharged 20,000MT of PMS on the Kirikiri Lighter Terminal Section 2, Tin Can Island Port, on Tuesday.

One other vessel, LASTE, discharged 13,000MT of AGO through Kirikiri Lighter Terminal 3A early Wednesday, whereas Matrix Triumph discharged 15,000MT by KLT Section 2 at Tin Can Island Port.

Koba can also be meant to discharge 22,000MT of AGO through KLT Section 2 on Thursday, March 19. Princess Oge is predicted to discharge 20,000MT of PMS at KLT Section 3 on Friday, whereas Ashabi would discharge 30,000MT of AGO on Sunday.

The PidomNigeria earlier reported that vessels carrying 129,000MT of petrol and diesel had docked at Lagos ports this week. In latest days, 249,000MT of each merchandise have been imported, together with 117,000MT of petrol.

In keeping with the NPA’s Delivery Place Every day obtained on Monday, Mosunmola, carrying 20,000MT of PMS, arrived at Lagos ports through the Bulk Oil Plant on March 14. One other vessel, Kobe, with 22,000MT of AGO, docked at Kirikiri Lighter Terminal Section 2 on the identical day.

On Tuesday, March 17, Bora was scheduled to reach at Kirikiri Lighter Terminal 3B with 27,000MT of PMS, whereas Ashabi delivered 30,000MT of AGO to the identical terminal. Moreover, Oluwajuwonlo offloaded 15,000MT of PMS at Calabar ports on Sunday, March 15, whereas Mosunmola delivered 15,000MT of PMS to the identical port on March 17.

Nigeria’s latest petrol import of 117,000MT translated to about 156 million litres, utilizing a density of 0.75 kilogramme per litre. The vessel arrivals coincided with rising gas costs nationwide.

Retail petrol costs climbed above N1,200 per litre, growing transport prices and the costs of products and companies.

Financial analysts, labour unions, and personal sector leaders known as on the Federal Authorities to supply aid, citing rising crude oil costs pushed by tensions between the US and Iran. Some stakeholders urged subsidising petrol to ease the burden on residents and companies, warning that additional will increase might worsen inflation.

Petrol costs ranged between N1,200 and N1,300 per litre in a number of areas, with projections that they may exceed N1,500 or strategy N2,000 if the Center East disaster persevered.

In keeping with MEMAN, costs have been greater in areas farther from Lagos as a result of distribution prices.

The Impartial Petroleum Entrepreneurs Affiliation of Nigeria confirmed that impartial entrepreneurs have been able to elevate imported merchandise to make sure availability and competitors.

IPMAN spokesperson Chinedu Ukadike famous that entrepreneurs would purchase merchandise from any out there supply, including that elevated provide might encourage competitors and assist stabilise worth volatility.

He additionally urged that the vessels could be working underneath outdated licences and that delays at sea, significantly across the Strait of Hormuz, may clarify their late arrival.

He added that imported merchandise wouldn’t considerably affect costs except crude oil costs declined, noting that pricing remained tied to world oil benchmarks reminiscent of Brent crude.

NMDPRA explains imports

The Nigerian Midstream and Downstream Petroleum Regulatory Authority earlier clarified that no import licences have been issued within the first quarter of 2026, stating that February shortfalls have been lined by leftover shares from January and current refinery output.

Whereas IPMAN and others supported the halt on import licences, main sellers argued that imports remained mandatory to satisfy demand. February knowledge confirmed a median native provide of 36 million litres per day in opposition to nationwide consumption of about 56 million litres.

A supply inside NMDPRA who pleaded to not be named as a result of lack of authorisation to talk on the matter defined that the hole was bridged by rollover shares as a result of delayed exports in Europe on the finish of 2025.

The regulator additionally refuted claims that new licences had been issued, noting that licences have been granted quarterly and that beforehand issued licences have been nonetheless being utilised.

NMDPRA acknowledged that home refineries equipped 36.5 million litres per day in February 2026, whereas imports contributed three million litres, accounting for about 92 per cent of the entire every day provide.

Chief Govt of NMDPRA, Saidu Mohammed, warned in opposition to a return to heavy import dependence, noting that some pursuits continued to push for large-scale importation regardless of enhancements in home refining.

The latest vessel arrivals, whereas supporting provide, largely mirrored previous import licences and logistical delays slightly than new approvals, whilst worth disparity tends to open a brand new debate.

Whereas some entrepreneurs supported the suspension of import licences, others argued that it might breed monopolistic practices.