The landing cost of fuel has skyrocketed to N843.28 per liter according to the Major Energies Marketing Association of Nigeria (MEMAN).

MEMAN in its periodic bulletin that was made available to journalists in Lagos yesterday, further stated that the landing cost of diesel (AGO) rose to N1,006.50k; Kerosene (ATK), N1,006.50 per litre.

It added that Dangote coastal price for diesel was $680, ATK $742.50 while Dangote gantry price was $749.00 for diesel and $763.50 for ATK. Meanwhile, MEMAN has expressed support for competition and importation in the petroleum industry.

The Chief Executive Officer, MEMAN, Mr. Clement Isong, also said they are ingredients of deregulation and liberalised market economy.

He spoke on Monday during MEMAN’s Q1’25 Press training & engagement, which brought together industry experts who provided critical insights into the evolving energy sector.

The MEMAN CEO said that marketers should be allowed to import petroleum products so as to engender healthy competition which will positively affect users of petroleum products and ultimately lead to price reduction.

He explained that blending was part of the refining process, adding that there is nothing wrong with blending to align with a country’s specification.

Isong said: “We want them to import crude, to use the crude in Nigeria, to refine products, to sell to Nigeria, to export from Nigeria. We also want import of refined products and import of crude, because that is what makes the market more efficient.