Prosper Okoye
Imported petrol is currently cheaper than fuel supplied by Nigeria’s Dangote refinery, according to data from the Major Energies Marketers Association of Nigeria (MEMAN), as rising global oil prices linked to tensions between the United States, Israel and Iran push up domestic costs.
MEMAN said the landing cost of imported petrol stood at about 809.37 naira per litre, roughly 64 naira lower than the 874 naira per litre ex-depot price set by the Dangote Petroleum Refinery earlier this week.
The refinery increased its gantry price from 774 naira to 874 naira per litre following a surge in global crude prices to around $84 per barrel, up from below $70 before escalating airstrikes involving the United States, Iran and Israel disrupted oil markets.
Join our WhatsApp ChannelRetail fuel prices at filling stations across Nigeria subsequently rose to as high as 937 naira per litre in some locations, up from around 812–839 naira before the latest spike in global oil prices.
MEMAN also said diesel from the Dangote refinery was priced at 1,169.42 naira per litre compared with an imported landing cost of about 1,125.70 naira.
Officials at the refinery rejected suggestions that imported fuel was cheaper, accusing some marketers of pushing “a false narrative” to encourage the government to continue issuing fuel import licences.
They challenged importers to bring in fuel despite ongoing instability in the Middle East, where the conflict has disrupted supply chains and increased shipping risks.
The company said Nigeria would have faced a severe fuel crisis if the refinery was not operating during the current geopolitical tensions.
“Without local refining, the country could be facing long queues and major disruptions to economic activities,” one refinery official said.
Analysts say rising global oil prices are putting pressure on fuel markets worldwide. MEMAN warned that if Brent crude climbs toward $90 per barrel, petrol prices in Nigeria could reach about 1,100 naira per litre in the coming weeks.
Nigeria has long relied heavily on imported fuel despite being Africa’s largest oil producer. However, domestic supply has increased since the Dangote refinery began producing petrol.
Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority showed that domestic refineries supplied about 40.1 million litres of petrol per day in January 2026, compared with imports of 24.8 million litres per day.
Total daily supply averaged 64.9 million litres, marking the first time domestic production exceeded imports over the past year.
The Dangote refinery said it continues to face challenges securing sufficient crude from local producers and has had to rely partly on imported feedstock.
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The company said global crude prices and freight costs had risen sharply due to the Middle East conflict, with Brent crude climbing by about 26 percent in recent weeks.
Despite the cost pressures, the refinery said local refining helps shield Nigeria from global supply disruptions and reduces the country’s reliance on foreign fuel imports.
Prosper Okoye is a Correspondent and Research Writer at Prime Business Africa, a Nigerian journalist with experience in development reporting, public affairs, and policy-focused storytelling across Africa
