The landing cost of petrol in Nigeria has recorded a minor decline, settling at approximately N975/litre, according to the latest data from the Major Energy Marketers Association of Nigeria (MEMAN).
This adjustment, calculated with an exchange rate of N1,658.93 to the dollar, reflects a decrease from the previous average of N977.45/litre.
The spot landing cost also dropped marginally to N938/litre, indicating modest improvements driven by exchange rate stability and supply dynamics.
According to MEMAN, the landing cost is composed of multiple factors, including finance charges calculated at an annual rate of 32 per cent over 30 days, freight costs over 10 days, and Nigerian Ports Authority (NPA) fees covering services like mooring and towage.
Other fuels also recorded a decline, with diesel (Automotive Gas Oil) now priced at N1,085 per litre and aviation fuel (Aviation Turbine Kerosene) at N1,141 per litre.
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