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

Bayern Munich Land Star Winger Luis Díaz in €75m Deal | Daily Report Nigeria
Bayern Munich Land Star Winger Luis Díaz in €75m Deal
Sports
Victor Osimhen Lands in Istanbul for Galatasaray Medical
Sports
TETFund Suspends Foreign Training to Boost Infrastructure in Nigerian Universities | Daily Report Nigeria
TETFund Suspends Foreign Training to Boost Infrastructure in Nigerian Universities
News
Dangote Refinery Gulps 13% of Nigeria Crude Exports – Report
Dangote Refinery Withdraws ₦100bn Lawsuit Against NMDPRA, NNPCL, Marketers
Business
2Baba Quietly Marries Natasha Osawaru, Social Media Flooded With Reactions | Daily Report Nigeria
2Baba Quietly Marries Natasha Osawaru, Social Media Flooded With Reactions
Entertainment

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

Rivers 2023: Oil Magnate, Dumo Lulu-Briggs Declares for Governorship

June 14, 2025
NDDC: Lauretta's Appointment Will Be Resisted by All Means - Group | Daily Report Nigeria
News

NDDC: Lauretta’s Appointment Will Be Resisted by All Means – Group

June 14, 2025
BREAKING: Bandits Burn Catholic Priest to Death in Niger | Daily Report Nigeria
Metro

BREAKING: Bandits Burn Catholic Priest to Death in Niger

March 17, 2025
CBN Bans Dollar Payment For Domestic Transactions, Launches AfriGo Card | Daily Report Nigeria
News

CBN Bans Dollar Payment For Domestic Transactions, Launches AfriGo Card

June 15, 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?