The Major Energies Marketers Association of Nigeria stated on Wednesday that the landing cost of Premium Motor Spirit, better known as petrol, was N1,117 per liter as of Tuesday, July 16, 2024.
MEMAN revealed this at a webinar for press.
The association indicated that the landing cost of diesel was N1,157/litre, while aviation fuel was N1,127/litre.
Petrol’s landing cost of N1,117 is significantly higher than its pump price in Nigeria.
Filling stations maintained by the Nigerian National Petroleum Company Limited and big marketers currently sell PMS for between N617 and N660 per litre, while independent merchants charge N700 or more per litre.
NNPC, the sole importer of petrol into Nigeria, has consistently denied subsidising the cost of PMS but refused to disclose the landing cost of the product.
Our correspondent reports that the revelation from MEMAN is almost the first from marketers in the industry as the landing cost appears to have been shrouded in secrecy by the importer of PMS.
