Petrol depot prices hit N1,349 as Dangote keeps N1,210 ex-gantry rate

Petrol depot prices across Lagos, Warri, Calabar and Port Harcourt ranged from N1,323 to N1,349 per litre, according to Major Energy Marketers Association of Nigeria (MEMAN) data released on October 27, 2026. Dangote Petroleum Refinery kept its ex-gantry price at N1,210 per litre, N113 to N139 below the depot rates.

The figures come as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) tightens conditions for petroleum product imports. The gap between depot prices and Dangote’s ex-gantry rate could affect how marketers buy Premium Motor Spirit (PMS) and how filling stations price fuel.

Depot prices by location

In Lagos, MEMAN data showed depot prices between N1,323 and N1,340 per litre. Warri depots quoted N1,340 to N1,349 per litre. Calabar depots quoted N1,335 to N1,340 per litre, while Port Harcourt ranged from N1,332 to N1,340 per litre. The figures reflect differences in supply arrangements and pricing among operators in the four hubs.

Dangote Refinery’s N1,210 per litre ex-gantry price is between N113 and N139 below those depot quotations. For marketers buying large volumes, the difference could mean substantial savings before transport and distribution costs. The final cost advantage still depends on logistics, loading arrangements and delivery destinations.

Regulatory pressure on imports

NMDPRA has introduced stricter conditions for petroleum product imports. Marketers seeking permission to import petroleum products must satisfy additional regulatory conditions before approval. The policy could influence import volumes and push greater reliance on domestic refining capacity, depending on implementation and local supply availability.

Import-dependent marketers may need to adjust procurement strategies. Industry observers believe the differences in depot prices could intensify competition among petroleum suppliers, with marketers comparing domestic refinery prices with alternative wholesale supplies while weighing transport expenses, product availability and delivery timelines.

What it means for motorists

Cheaper ex-gantry petrol does not automatically guarantee immediate reductions at filling stations. Depot prices do not translate directly into retail pump prices because marketers must account for transportation, distribution and other operating expenses. Stronger competition could eventually create opportunities for lower pump prices, but the direction will depend on supply stability, distribution costs, exchange rates and the ability of competing suppliers to sustain attractive wholesale prices.

Separately, the Major Energies Marketers Association of Nigeria (MEMAN) data showed compressed natural gas (CNG) prices between N380 and N500 per standard cubic metre (scm), offering motorists another option as concerns over petrol affordability persist. Premium Motor Spirit (PMS) remains the main fuel in the current depot price comparisons.