Imported petrol landed cost hits N1,223.32 per litre by July 29, topping Dangote’s N1,215 gantry price
AI Market Summary
Nigeria's data show imported petrol landed costs now exceed Dangote Refinery's local price, driven by firmer Brent (~$90/bbl) and sharp naira depreciation. The inversion highlights rising FX-linked import costs and strengthens the economics of domestic refining, potentially reducing refined-product imports and associated FX demand. While primarily a downstream Nigerian story, it reflects how higher Brent and currency weakness transmit into local fuel pricing and margins.
Impact level
● Low
Affected assets
NCCO1OILBRENT2USD/USDT+1.08%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
● Neutral
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As of July 29, the landed cost of imported petrol in Nigeria rose to N1,223.32 per litre, above the Dangote refinery’s retail price of N1,215 per litre. The increase was driven by Brent crude averaging $90 per barrel and the naira weakening to an average of N1,367.03 per dollar. European diesel was priced at $1,246.54 per metric tonne on the international market. The price inversion underscores pressure on import costs and strengthens the economics of domestic refining in markets that rely on crude imports.
