Petrol marketers fit stop to dey import petrol for Nigeria as Dangote Petroleum Refinery don reduce gantry price of fuel by N49 per litre last Friday. The new price put petrol at N828 per litre, down from N877, as Dangote continue dey set strong competition for local market.
Marketers wey we talk to on Monday admit say the price cut don change dynamics for downstream petroleum market, especially as Federal Government don introduce 15 per cent import duty on refined fuel. Dis tariff dey make imported petrol dey more expensive pass locally refined petrol, giving Dangote price advantage.
Some marketers warn say even though Dangote pricing dey competitive, importation still dey necessary to avoid scarcity because local refineries, including Dangote, never fit meet full domestic demand. Billy Gillis-Harry, President of Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), talk say imported petrol dey complement the 30–35 per cent local production, and stopping import fit make fuel shortage wahala dey worse.
Dangote gantry price dey N828 per litre now, marking second major adjustment in three months. MEMAN data show say average import parity price for petrol dey N824.10 per litre for past 30 days, factoring in global crude cost, forex, shipping, insurance, port levies, and NIMASA surcharge. Spot landing price for ports dey around N830.80–N830.82 per litre, slightly higher pass the Dangote gantry price.
PETROAN said dem dey buy petrol from Dangote refinery, but some marketers dey complain about loading delay. Despite Dangote’s lower price, Harris stress say importation no go stop completely, and any halt must dey balanced to avoid disruption.
According to Dangote refinery’s pricing strategy, gantry price no dey move daily but dey track 30-day average. This make Dangote gantry price dey strong benchmark for local market even as small marketers fit still get cheaper import price depending on vessel size, storage, and finance cost.
At retail level, petrol dey sell between N850 and N950 per litre across country, reflecting small reduction from before. Experts warn say dis wahala go continue to affect marketers’ decisions as government import tariffs go start later this November.
