The Major Energies Marketers Association of Nigeria on Wednesday, claimed that the landing cost of Premium Motor Spirit, also known as petrol, was N1,117/litre as of Tuesday, July 16, 2024.
MEMAN revealed this during a webinar with journalists.
The association revealed that the landing cost of diesel was N1,157/litre, while that of aviation fuel was N1,127/litre.
The N1,117 landing cost of petrol is far above the pump price of the product in Nigeria.
At the moment, filling stations operated by the Nigerian National Petroleum Company Limited and those of the major marketers sell PMS at between N617/litre and N660/litre, while independent marketers sell for N700/litre or more.
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.
