The landing cost of imported Premium Motor Spirit (petrol) has fallen below the gantry price of petrol from the Dangote Petroleum Refinery following the refinery’s decision to increase its price.

Data from the Major Energies Marketers Association of Nigeria indicate that the landing cost of imported petrol stood at N728.88 per litre last week.

On Monday night, the Dangote refinery raised its gantry price from N699 to N799 per litre, making its price approximately N70 higher than the landing cost of imported petrol.

Following the increase, the refinery announced that MRS filling stations would sell petrol at N839 per litre. According to checks by The PUNCH on Tuesday, it was confirmed that MRS stations adjusted their pump price from N739 to N839 per litre.

In a statement issued Monday night, the refinery explained that it had realigned petrol prices modestly now that the festive period was over, stressing that the previous reduction had been set at a sustainable level to support long-term market stability and affordability.

The refinery reaffirmed its commitment to market stability and uninterrupted nationwide supply of petrol.

It recalled implementing a deliberate temporary price support during the recent festive season to ease the burden on Nigerians during a period of high household spending.

The statement noted that this was the second consecutive festive season in which the refinery absorbed high costs in the national interest, including logistics support in 2024 and a price reduction in 2025 to promote affordability and market calm.

“Despite the price reduction, many filling stations failed to reflect the new price at the pump, thereby denying Nigerians the benefits of the reduction. With the festive period concluded, PMS prices have been modestly realigned to sustainable levels to support long-term market stability and affordability. Under the current alignment, the PMS gantry price is N799 per litre, while MRS retail outlets are selling at N839 per litre,” the statement declared.

The Chief Executive Officer of the Dangote refinery, David Bird, said the refinery continues to supply the domestic market with approximately 50 million litres of PMS daily, with evacuation and distribution proceeding normally nationwide.

He added that the refinery’s design flexibility allows it to process various crude and intermediate feedstocks, ensuring continued supply even during planned maintenance.

“As a domestic producer, Dangote Petroleum Refinery continues to shield the Nigerian market from import-related volatility and external supply disruptions, while remaining a stabilising force in the downstream petroleum sector. Dangote Petroleum Refinery remains focused on delivering energy security, price stability, and long-term value for Nigerians,” the statement concluded.

Before Monday’s adjustment, the landing cost of imported petrol had remained above the refinery’s ex-depot price of N699 per litre, making it difficult for importers to compete with Dangote-backed MRS stations.

In December, the President of the Dangote Group, Aliko Dangote, reduced the gantry price by N129 to ensure Nigerians paid no more than N740 per litre during the Yuletide and to discourage importation.

Dangote had accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority of issuing reckless import licences in November when his tanks were full, while marketers complained of losses due to the price drop, to which Dangote responded that he was losing more.

Data from NMDPRA showed imported petrol volumes fell from 52.1 million litres per day in November to 42.2 million litres per day in December, while Dangote’s supply rose from 19.5 million to 32 million litres per day over the same period.

Sources within the Dangote Group said the December reduction was primarily for the festive season and that Monday’s announcement simply returned prices to normal levels.

“We didn’t increase prices; we only realigned the petrol price to what it should be. When we reduced the price in December, we told Nigerians that it was mainly for the festive season. Now that the festive season is over, it is normal that we adjust the price to reflect market realities,” one of the sources said.

However, the National President of the Petroleum Products Retail Outlet Owners Association of Nigeria, Billy Gillis-Harry, said Aliko Dangote reduced the price in December to capture the market from competitors.

He stated that Nigerians would soon see what the billionaire could achieve once he became the sole supplier and called for a level playing field for all stakeholders.

Dangote has repeatedly denied monopoly claims, insisting he has never prevented others from building refineries and describing importation while his tanks are full as economic sabotage.

It remains unclear whether importers will now sell petrol below Dangote’s price.