By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Daily Report NigeriaDaily Report NigeriaDaily Report Nigeria
Notification Show More
Font ResizerAa
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Reading: Imported Petrol Landing Cost Drops To N797.66/Litre
Share
Font ResizerAa
Daily Report NigeriaDaily Report Nigeria
  • METRO
  • NEWS
  • POLITICS
  • SPECIAL REPORT
  • FACT FILE
Search
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Have an existing account? Sign In
Follow US

Home | Imported Petrol Landing Cost Drops To N797.66/Litre

Business

Imported Petrol Landing Cost Drops To N797.66/Litre

Olaitan Sodiq
Olaitan Sodiq
Published: June 4, 2025
Last updated: June 4, 2025
2 Min Read
Share
Again, NNPC Increases Fuel Price
SHARE
  • The landing cost of imported Premium Motor Spirit (petrol) has dropped to N797.66 per litre.

  • The drop in landing cost is attributed to a price reduction at the Dangote refinery, which reduced the loading cost of its petrol from N825 per litre to N815 per litre.

  • Oil marketers have expressed concern over the continuous decline in PMS prices, which has caused significant losses for them, with an estimated daily loss of N2.5 billion.

The landing cost of imported Premium Motor Spirit (petrol) has dropped to N797.66 per litre, according to the latest Competency Centre daily energy data released on Monday.

The drop in landing cost is attributed to a price reduction at the Dangote refinery, which reduced the loading cost of its petrol from N825 per litre to N815 per litre.

Hammed Fashola, National Vice President of IPMAN, stated that while the price war has benefited Nigerians, the unpredictability of fuel price reductions is forcing oil marketers to cut their purchases, leading to significant daily losses.

ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!

READ ALSO: Opeyori Wins Gold at Africa Badminton Championship

“The price war has benefited Nigerians, but it’s causing us to lose money,” Fashola said.

The document showed that on-the-spot sales at the NPSC-NOJ terminal dropped to N797.73 per litre from N817.90 per litre charged last week Friday, while the average cost for 30 days also dropped to N851.76 from N854.15 per litre.

The price of Brent crude was benchmarked at $70.58 per barrel, from $69.88 per barrel quoted on Friday, with an exchange rate of N1,517.93 per dollar.

Nigeria’s Petrol Imports Surge 105% To N15.42tn In 2024 – NBS

Nigeria’s petrol imports doubled in 2024, rising by 105.3% to N15.42tn, despite significant investments in local refining, according to data from the National Bureau of Statistics.

The latest foreign trade statistics report revealed that the cost of petrol imports skyrocketed from N7.51tn in 2023 to N15.42tn in 2024.

Continue Reading Here

For publication of Press Releases, Statements, and Advert Inquiries, send an email to info@dailyreport.ng
TAGGED:NBSOil marketersPremium Motor SpiritTop Stories
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Updates

Babachir Lawal Slams Lagos-Calabar Coastal Highway, Labels Project A Scam | Daily Report Nigeria
Babachir Lawal Slams Lagos-Calabar Coastal Highway, Labels Project A Scam
News
Queues Return as Fuel Price Hits N1000 in Abuja
Petrol Prices Set to Drop Nationwide as IPMAN Follows Dangote Refinery’s Lead
Business
Okpebholo Vows to Probe Obaseki’s Administration, Sets Up Commission of Inquiry | Daily Report Nigeria
Okpebholo Vows to Probe Obaseki’s Administration, Sets Up Commission of Inquiry
Politics
PDP Crisis: South-West PDP Calls For Ayu’s Resignation
Makinde Dismisses Coalition Threat, Says PDP South-West Remains United
Politics
UEFA Demotes Crystal Palace to Conference League Over Ownership Breach | Daily Report Nigeria
UEFA Demotes Crystal Palace to Conference League Over Ownership Breach
Sports

TOPIC

2023 Elections Abuja Accident AFCON Anambra APC Arrest ASUU ASUU Strike Atiku Abubakar Bandits Bayelsa BBNaija Biafra Boko Haram Bola Ahmed Tinubu Bola Tinubu Breaking News Breaking News Nigeria Burna Boy Burutu CBN Celebrity news Chelsea Coronavirus court covid-19 Crime Daily Report Ng Daily Report Nigeria Daily Sports News Davido Delta Delta state DSS Education EFCC Elections English Premier League EPL Family federal government FG FIFA World Cup Football Fraud Godwin Emefiele Goodluck Jonathan Governor Nyesom Wike Gunmen Health Ifeanyi Okowa Imo INEC Insecurity IPOB IYC JAMB Kaduna Kidnap Labour Party Lagos Lagos State Manchester United Marriage Muhammadu buhari Music NASS NDDC NDLEA Niger Delta Nigeria NLC Nnamdi Kanu NNPC Nollywood Nyesom Wike Olusegun Obasanjo Pastor PDP Peter Obi Police Politicians President Bola Ahmed Tinubu President Muhammadu buhari Professor Yemi Osinbajo Protest Rape Reno Omokri Rivers State Senate Sheriff Oborevwori Social Media Suicide Super Eagles Tinubu Top Stories Twitter Victor Osimhen Zamfara

You Might Also Like

N585m Fraud: Tinubu Orders Investigation of Humanitarian Minister | Daily Report Nigeria
Politics

N585m Fraud: Tinubu Orders Investigation of Humanitarian Minister

June 15, 2025
BREAKING: Anambra Bans Bet9ja, Nariabet, Casinos, Over ‘criminal Activities' | Daily Report Nigeria
Politics

BREAKING: Anambra Bans Bet9ja, Nariabet, Casinos, Over ‘criminal Activities’

June 13, 2025
United PDP Will Be Difficult To Beat in Elections – Tambuwal | Daily Report Nigeria
Politics

United PDP Will Be Difficult To Beat in Elections – Tambuwal

June 13, 2025
BREAKING: Helicopter Crashes Into Building in Lagos | Daily Report Nigeria
Metro

BREAKING: Helicopter Crashes Into Building in Lagos

April 8, 2025
© Daily Media N Publishing LTD. All Rights Reserved.
  • Home
  • About Us
  • Adverts With Us
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?