On July 16, 2024, the landing cost of petrol in Nigeria increased to N1,117 per litre, according to MEMAN.
The landing cost of Premium Motor Spirit (petrol) in Nigeria has increased to N1,117 per litre on July 16, 2024, according to Major Energies Marketers Association of Nigeria (MEMAN). The cost of diesel is reported to be N1,157 per litre, while aviation fuel costs N1,127 per litre. Despite high landing costs, petrol is being sold between N617 and N660 per litre in Nigeria, with independent marketers selling it for N700 per litre or more. The Nigerian government has been warned by the International Monetary Fund to remove implicit fuel and electricity subsidies, as the cost of importing petrol in Nigeria has reached above N1,000 per litre.
July 17, 2024
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