Amid the escalating tensions in the Middle East, data from the Major Energies Marketers Association of Nigeria has shown that a litre of imported petrol is about N64 cheaper than the one produced by the Dangote Petroleum Refinery.
However, the refinery debunked the report, challenging importers to defy the ongoing airstrikes in the Middle East and bring in petroleum products.
On Monday the Dangote refinery increased its gantry price from N774 to N874. The adjustment followed a jump in oil prices to $84 per barrel, up from below $70, days before the airstrikes involving the United States, Iran, Israel, and other countries.
Following the increment, filling stations on Tuesday raised their pump prices to as high as N937, depending on the location. Before the Middle East crisis deepened over the weekend, some filling stations had already been selling petrol at prices ranging between N812 and N839, but the crisis disrupted the global fuel market, affecting Nigeria and other countries.
However, data by MEMAN indicated that Dangote’s petrol gantry price was N874 per litre as of Monday, while the landing cost of imported petrol was N809.37 per litre, showing a difference of about N64 between the two sources.
MEMAN also reported that Dangote’s diesel price was N1,169.42, while imported diesel was N1,125.70 per litre.
However, officials of the Dangote refinery, who did not want to be mentioned because of the sensitivity of the matter, said some importers were projecting a false narrative to ensure the Federal Government continues to issue import licences.
