The cost of importing petrol into Nigeria has fallen below the price offered by the Dangote Refinery, sparking renewed competition in the downstream oil market.

According to the Major Energy Marketers Association of Nigeria (MEMAN), the latest figures show that the landing cost of imported petrol now stands at ₦839.97 per litre as of October 21, 2025. This marks a slight decline from ₦841.54 recorded a day earlier and places imported fuel ₦37 cheaper than the Dangote Refinery’s ₦877 per litre rate.

Confirming the trend, Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), said the shift in prices is a natural outcome of deregulation, where market forces determine product costs.

“We’re in a liberalised market. Marketers can buy from whoever offers a better price, whether that’s Dangote Refinery at ₦877 or MEMAN importers at ₦839. Competition will drive prices down for consumers,” Ukadike explained.

Recent data indicate that Emedab, Gulf Treasure, Ardova, and Bono currently sell petrol at about ₦875 per litre, still below Dangote’s ex-depot price.

As of Friday, fuel stations belonging to NNPCL, MRS, Ranoil, Total, and Emedab in Abuja were dispensing petrol between ₦950 and ₦965 per litre.

Analysts believe the widening gap between imported and locally refined petrol could trigger a reduction in pump prices nationwide if the trend continues.

The development also highlights the growing price war among players in Nigeria’s deregulated downstream sector, as operators adjust to fluctuating global prices and domestic competition.