Home News Marketers Reveal Petrol Landing Cost At ₦1,117/litre
News

Marketers Reveal Petrol Landing Cost At ₦1,117/litre

827
Marketers Reveals Petrol Landing Cost At ₦1,117/litre

Nigeria’s landing cost of Premium Motor Spirit (PMS), also known as petrol, now costs ₦1,117 per litre as of Tuesday, July 16, 2024.

On Wednesday, the Major Energies Marketers Association of Nigeria (MEMAN) took the lead in informing the public about the rising fuel costs.

The association revealed that the landing cost of petrol was ₦ 1,117 per litre, a figure obtained from independent energy price benchmark providers.

With the discovery, the association also revealed that the landing cost of diesel was ₦1,157 per litre while also indicating the aviation fuel was ₦1,127 per litre.

In a report by The Punch, the current petrol pump prices as sold by the government-owned filling station, the Nigerian National Petroleum Company Limited (NNPC), fall between N617/litre and N660/litre. In contrast, private marketers sell for N700/litre or more.

NNPC has often denied subsidising the cost of petrol yet refused to disclose the landing cost of the widely used product.

Nonetheless, MEMAN’s Executive Secretary, Clement Isong, maintained that the association would regularly release similar information to keep the masses informed.

Read : Customs Duty Exchange Rate Exceeds Official Rate Of N1581/$

Burkina Faso To Produce Fertilisers Worth $24.9 Million To Boost Agriculture

About The Author

Written by
Mayowa Durosinmi

M. Durosinmi is a West Africa Weekly investigative reporter covering Politics, Human Rights, Health, and Security in West Africa and the Sahel Region

Related Articles

News

Nigerian Govt Outsources Upcoming National Cybersecurity Conference to UAE Firm, Excludes Local Experts

The Federal Ministry of Communications and Digital Economy has outsourced the organisation...

Malian Army ISIS Dahdah
News

Malian Army Kills Foreign ISIS Leader, Abu Dahdah, in Ménaka Region Raid

The Malian armed forces, in collaboration with their partners, killed a senior...

Togolese Protesters Faure Gnassingbé
News

Togolese Youth Continue Protests Despite Government Ban, Demand End to Faure Gnassingbé’s Rule

The youth of Togo continue to protest against President Faure Gnassingbé’s prolonged...

News

Fast Fashion’s Dumping Ground: How West Africa Is Drowning in Second-Hand Clothing Waste

Every week, massive shipping containers filled with used clothing arrive at West...