The Dangote Petroleum Refinery's Premium Motor Spirit (PMS) is now selling at N1,265 per litre, which is N45.64 cheaper than the prevailing import-parity price of N1,310.64 per litre, according to the latest energy bulletin from the Major Energies Marketers Association of Nigeria (MEMAN).
The data, released on September 6, 2026, also shows that under an alternative benchmark, the spot import-parity price stood at N1,309.63 per litre, making Dangote's product N44.63 cheaper.
Price Gap Widens Despite Dangote's N100 Increase
The price difference is notable because Dangote recently raised its gantry price from N1,165 to N1,265 per litre—a N100 increase. Despite this adjustment, the refinery's petrol remains below the cost benchmark for imported fuel.
MEMAN also reported Dangote's coastal PMS price at N1,245 per litre, reinforcing the cost advantage of locally refined products. The seven-day average ICE petrol price was put at $1,337.96 per metric tonne, which forms the basis for the import-parity calculation—a key metric for comparing the economics of imported versus domestically refined fuel.
Fresh Pressure on Petrol Imports
The widening price gap could intensify calls for the Federal Government to reconsider the continued issuance of petrol import licences. The Independent Petroleum Marketers Association of Nigeria (IPMAN) has previously argued that imported petrol is now more expensive than locally refined fuel, and that continued imports could worsen price volatility.
IPMAN National Publicity Secretary Chinedu Ukadike said the licences were expected to create competition and help moderate domestic fuel prices, but argued that the outcome had been the opposite. According to him, imported products were being offered to marketers at prices significantly higher than Dangote's supplies. He also raised concerns about the impact of fuel imports on the naira, stating that purchasing petrol from offshore markets places additional pressure on foreign exchange.
Dangote Warns About Rising Imports
The pricing debate comes amid growing tension between domestic refining and imported petrol. Dangote has previously warned that rising petrol imports were affecting its ability to plan production and maintain commercially viable inventories. The refinery said imported PMS accounted for approximately 43 per cent of fuel supplied into Nigeria in July, creating uncertainty around domestic demand.
It warned that where locally produced petrol cannot be absorbed by the domestic market, surplus stocks could ultimately be exported to regional and international markets. The refinery has also raised concerns about imported petrol being blended with its products, arguing that such practices could make it difficult to distinguish between fuel supplied directly by Dangote and products handled by third parties.
Lagos Depot Prices Remain Competitive
Meanwhile, depot prices show that Dangote remains the cheapest listed PMS supplier among the depots covered in the report. In Lagos, Dangote sells at N1,265 per litre, followed by MRS at N1,267. Aiteo, Ascon, Integrated, NIPCO, Rain Oil and Sahara were listed at N1,280 per litre, while Pinnacle stood at N1,290.
In Port Harcourt, Liquid Bulk, Masters, Sigmund and T.S.L. offered PMS at N1,287 per litre, Stockgap at N1,295, and Matrix at N1,310. In Warri, Keonamex, Nepal and Optima sold at N1,295, Parker and Prudent at N1,298, and Matrix at N1,300. In Calabar, Hong Petroleum and Northwest were listed at N1,295, Soroman at N1,300, while Fynefield, Matrix and Sobaz stood at N1,310.
What the Price Gap Means for Consumers
The latest figures strengthen the argument that domestic refining can provide a significant cost advantage when international product prices and foreign exchange costs push up the price of imported petrol. However, the benefit to motorists will ultimately depend on how depot prices translate into retail pump prices.
For now, the key development is clear: even after Dangote's latest N100 price increase, its N1,265 per litre gantry price remains below the N1,310.64 import-parity benchmark. That N45.64 gap could become an important factor in Nigeria's downstream petroleum debate, particularly as policymakers weigh the benefits of import competition against the growing capacity of domestic refineries.
