For the third day in a row, the landing cost of petrol in Nigeria remains steady at approximately N976 per litre, based on the latest data from the Major Energy Marketers Association of Nigeria (MEMAN). The current stability reflects the spot landing cost of N952.69 per litre and a 30-day average of N976.73 per litre, calculated with an exchange rate of N672.28 per dollar.
According to MEMAN, the total landing cost includes multiple components. Among these are finance charges applied at an annual rate of 32 percent over a 30-day period, freight charges calculated for a 10-day period, and various Nigerian Ports Authority (NPA) fees, covering mooring and towage services.
Beyond petrol, prices for other fuels have also maintained consistent levels. Diesel (Automotive Gas Oil) remains at a landing cost of N1,082 per litre, and aviation fuel (Aviation Turbine Kerosene) at N1,137 per litre, showing similar stability.
The steadiness in landing costs indicates a rare period of calm in Nigeria’s often volatile fuel import market. This consistency is essential for the country’s fuel supply chain, impacting pricing and availability across Nigeria, a nation that heavily relies on imported refined petroleum products.
