Overview
- Retail pump prices in Nigeria have surged from roughly 760 naira per litre to as high as 1,300 naira, reflecting tighter global markets and higher freight.
- Dangote reports receiving about five crude cargoes per month from NNPC versus the 13 required to meet domestic demand.
- Shortfalls have forced additional crude purchases from international traders at premiums, paid for with foreign exchange at open-market rates.
- The company cites landed crude costs of about $88–$91 per barrel, with Nigerian grades priced $3–$6 over Brent and freight around $3.50 per barrel.
- Regulator data show Dangote recently supplied 40.1 million litres of gasoline to the local market against daily demand of about 60 million litres, underscoring ongoing supply strain.