For the third consecutive day, the landing cost of petrol in Nigeria has held firm at approximately N976 per litre, according to recent figures from the Major Energies Marketers Association of Nigeria (MEMAN).
This stability, calculated using an exchange rate of N1,672.28 per dollar, reflects a spot landing cost of N952.69/litre and a 30-day average landing cost of N976.73 per litre.
MEMAN’s data highlights that the total landing cost comprises various elements, including finance charges applied at an annual rate of 32 percent over a 30-day period, alongside freight charges spanning 10 days, and Nigerian Ports Authority (NPA) fees for services like mooring and towage.
Read also: Petrol landing costs rises amid exchange rate volatility
The stability extends across other fuels, with diesel (Automotive Gas Oil) landing at N1,082 per litre and aviation fuel (Aviation Turbine Kerosene) at N1,137 per litre, maintaining consistent levels over recent days.
This steadiness in landing costs indicates a period of relative calm in Nigeria’s volatile fuel import market.
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