Nigeria Records Cheapest Petrol Price in West Africa at N739 Per Litre
- Nigeria currently sells the cheapest petrol in West Africa at about N739 per litre, according to MEMAN’s latest Energy Bulletin
- This price advantage is largely attributed to the Dangote Refinery’s recent reduction in pump prices through its partner, MRS filling stations
- IPMAN has endorsed the Dangote Refinery, assuring a steady fuel supply nationwide and projecting further price reductions with direct supply
Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.
Nigeria has emerged as the country with the most affordable Premium Motor Spirit (PMS), also known as petrol, in West Africa, selling at about N739 per litre.
This was disclosed in the latest Energy Bulletin released by the MEMAN Competency Centre, an arm of the Major Energies Marketers Association of Nigeria (MEMAN).
Source: Getty Images
The report reviewed petrol prices in 12 West African nations and placed Nigeria at the bottom of the pricing chart. Liberia followed with N1,337.12 per litre, while prices were significantly higher in other countries such as Togo (N1,777), Benin (N1,816.33), Ghana (N1,889.16), Guinea (N2,011.51), Sierra Leone (N2,020.25), Mali (N2,024.62), Côte d’Ivoire (N2,142.60), Cameroon (N2,195.04), Burkina Faso (N2,221.25) and Senegal (N2,463.32).
MEMAN’s data also showed variations in Nigeria’s ex-depot petrol prices across major locations. In Lagos, prices ranged between N700.50 and N800 per litre; Warri recorded N765 to N780; Calabar N773 to N775; while Port Harcourt prices were reported within a similar band.
Industry observers link Nigeria’s price advantage largely to the recent reduction by the Dangote Petroleum Refinery, which cut its pump price through its partner, MRS filling stations, from N860 to N739 per litre.
Dangote Refinery, IPMAN partnership boost supply
The National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Alhaji Abubakar Maigandi Shettima, has urged marketers nationwide to source petrol from the Dangote Refinery, citing its competitive pricing and efficiency.
He noted that the refinery’s plan to commence free product delivery to filling stations from January 2026 would further ease distribution costs and potentially lower pump prices.
IPMAN welcomed a new supply arrangement under which Dangote Refinery will sell PMS directly to registered IPMAN members.
Shettima praised the refinery’s chairman, Aliko Dangote, for supporting the Federal Government’s reform efforts, which he said are already reflected in consistent reductions in fuel prices.
He emphasised that IPMAN controls over 80% of Nigeria’s PMS retail outlets and assured Nigerians that fuel shortages would not occur.
According to him, the partnership between IPMAN and Dangote Refinery aligns with the broader goal of strengthening domestic refining capacity and eliminating dependence on imported petroleum products.
He warned that unchecked fuel imports distort the market, drain foreign exchange, reduce employment opportunities and discourage investment.
Source: Getty Images
IPMAN also commended President Bola Tinubu for policy decisions in the oil and gas sector, particularly leadership changes at the regulatory agencies, which it described as crucial to sector stability.
While congratulating the new heads of the regulatory bodies, the association reminded them of outstanding bridging claims owed to its members, estimated at over N190 billion, and urged the leadership of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to prioritise addressing this issue.
NNPC slashes petrol prices by N175 in 2025
Meanwhile, Legit.ng earlier reported that the Nigerian National Petroleum Company (NNPC) Limited reduced the price of petrol by more than N175 in 2025.
The latest cut was made on Wednesday, December 24, just before the festive celebrations. With this adjustment, the pump price of petrol in Lagos now stands at N785 per litre, down from N820.
This is the third price reduction recorded within one week, bringing some relief to motorists during the holiday period.
Proofreading by James Ojo, copy editor at Legit.ng.
Source: Legit.ng
