Why Imported Fuel Landing Cost Is Cheaper Than Dangote Gantry Price — Marketer

The recent debate over why the landing cost of imported fuel is cheaper than Dangote Refinery’s gantry price has finally been addressed by one of the industry’s key stakeholders. Mr Adetunji Oyebanji, former Chairman of the Major Energies Marketers Association of Nigeria (MEMAN) , has explained that the price difference comes down to one critical factor: product specifications.

According to Oyebanji, Dangote’s gantry price is higher because the refinery is producing fuel with higher product specifications intended for export markets. To export products to Europe and the United States, the specifications must meet higher standards than what is required for products imported into Nigeria. Oyebanji pointed out that imported fuel is cheaper because the specification is not the same, though the product specification must still conform to Nigerian law. He explained that the difference in price depends on specifications, and he believes that Dangote is producing higher specification because it has to export, and the export specification to be able to export to Europe and US is a higher standard to what is allowed by import into Nigeria. So by definition, it is cheaper, and while it shouldn’t be, that is what it is. He further noted that import is not allowed on a whole scale, but on certain specifications, and there are also export specifications to places.

Oyebanji argued that the limited import of fuel into Nigeria is another factor keeping prices high. He stated that if the Nigerian government allowed more imports, it would force Dangote to reduce its prices. He explained that allowing more import would force Dangote to reduce price, but because of low import, Dangote, being the dominant in the market, will be the one dictating the price. He emphasized that the only thing that can bring price down is regular competition in the market.

Before the recent reduction in Dangote’s prices, data from MEMAN revealed a significant gap between the cost of imported fuel and Dangote’s gantry price. On June 2, 2026, the landing cost of imported petrol was N1,118.75 per litre, while Dangote’s gantry price stood at N1,250 per litre. The gap was even wider for diesel, with a landing cost of N1,470.38 per litre compared to Dangote’s N1,700 per litre. Aviation Turbine Kerosene (ATK) landed at N1,426.24 per litre, while Dangote’s gantry price was N1,650 per litre.

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Despite the presence of the Dangote Refinery, Nigeria reverted to being a net importer of petrol in May 2026. According to Argus Media, petrol deliveries into Nigeria averaged 57,000 barrels per day in May, while exports stood at 23,000 barrels per day. This development reversed the country’s net export position recorded in March and April, when local supply exceeded imports. Industry data indicated that the increase in imports was largely driven by maintenance activities at the 700,000-barrels-per-day Dangote Refinery in Lekki. The refinery’s Residual Fluid Catalytic Cracker (RFCC) , a critical unit responsible for gasoline production, underwent maintenance during the month, affecting output and creating the need for additional fuel imports. The RFCC unit converts heavy refinery residues into valuable fuels including gasoline, making it one of the most important units in a modern refinery.

The temporary reduction in local production prompted marketers and refiners to source more petrol from Europe, which supplied Nigeria’s entire import requirement in May. Norway emerged as the largest supplier, followed by Italy and France. Data also showed that both the Nigerian National Petroleum Company Limited (NNPC) and Dangote Refinery participated in fuel imports during the period. NNPC imported approximately 11,000 barrels per day, while Dangote accounted for 27,000 barrels per day. The figures underline the unusual situation in which the refinery remained both the country’s largest producer and one of its biggest importers of petrol.

The increase in imports came after the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) approved substantial import allocations for the second quarter of the year. On May 6, 2026, NMDPRA issued six Nigerian marketers with new gasoline import licenses, equating to a total volume of 720,000 metric tons, or roughly a fifth of the country’s average Q1 consumption. The licensed companies include Matrix, AA Rano, AYM Shafa, NIPCO, Pinnacle, and Bono. This was a significant policy departure from recent market norms, which had seen NMDPRA heavily regulate foreign arrivals of Nigeria’s main motor fuel in order to support Dangote Refinery.

Dangote Industries recently confirmed that the refinery’s nameplate capacity has been increased to 700,000 barrels per day from 650,000 barrels per day, a move expected to strengthen gasoline production capacity once all processing units return to full operation. The RFCC unit is expected to return to full rates by mid-June after repairs to a flue gas slide gate valve. Market analysts believe the setback may be short-lived, as maintenance schedules and operational adjustments can still create temporary supply gaps that require imports to bridge.

Why Imported Fuel Landing Cost Is Cheaper Than Dangote Gantry Price — Marketer

Massilia Motors Slashes Mitsubishi L200 Price to ₦42m for Anniversary Campaign

Massilia Motors Nigeria has unveiled a special anniversary pricing offer on the new Mitsubishi L200 pickup truck to celebrate one year of the latest model’s introduction into the Nigerian market, with prices now starting from ₦42 million.

The company, the sole authorised distributor of Mitsubishi Motors in Nigeria and a joint venture between the CFAO Group and the Chanrai Group, said the limited-time offer applies to all variants of the L200, urging prospective buyers to take advantage of the promotion while stocks last.

The latest-generation L200 entered the Nigerian market backed by strong international recognition. The pickup won the Design Car of the Year award at the 2024–2025 Japan Car of the Year Awards, earning praise for its bold “Beast Mode” styling and practical interior design. It also clinched the Best Mid-size Pickup title at the 2024 Arab Car of the Year Awards for its performance, durability and reliability.

Since its launch, the vehicle has gained acceptance among operators in key sectors of the economy, including construction, agriculture, mining and logistics, where ruggedness, payload capacity and dependable performance are critical.

Built on Mitsubishi’s long-standing expertise in pickup engineering, the L200 combines off-road capability and commercial-grade toughness with modern comfort, safety and technology features.

Massilia Motors said the pickup’s growing popularity reflects the increasing demand for versatile vehicles capable of handling Nigeria’s diverse operating conditions while meeting the expectations of both fleet operators and individual customers.

The company added that ownership of the L200 is supported by a comprehensive aftersales package, including genuine spare parts availability, certified service support and a warranty covering three years or 100,000 kilometres, whichever comes first.

Speaking on the milestone, the Managing Director of Massilia Motors Nigeria, Olivier Lamoure, said the L200 had lived up to expectations since its introduction to the market.

“One year in, the L200 has proven exactly what we believed it would — that the Nigerian market has a real appetite for a pickup truck that is built to work without compromise,” Lamoure said.

He noted that the anniversary pricing offer was designed to reward existing customers and provide an opportunity for prospective buyers to acquire the vehicle at a more attractive price.

According to him, the special pricing will only be available for the remainder of the month, making it a timely opportunity for businesses and individuals considering the pickup.

Massilia Motors provides vehicle sales, genuine parts and certified aftersales support to individual and fleet customers through its operations in Lagos, Abuja, Port Harcourt and other locations across the country.

FG Approves New York, Canada, Dubai Routes for United Nigeria Airlines 

The Federal Government has approved several international routes for United Nigeria Airlines, including New York, Canada, and Dubai, in a move aimed at boosting the participation of indigenous carriers in the lucrative global aviation market.

Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed the development on Thursday during the unveiling of two newly acquired Boeing 737-800 Next Generation (NG) aircraft by the airline in Lagos.

According to the minister, the route approvals form part of the government’s broader strategy to ensure Nigerian-owned airlines secure a larger share of international passenger traffic, which has long been dominated by foreign carriers.

“We are giving United about four or five routes now. We are giving them New York. We are giving you Canada. We are giving you Dubai. We are giving you some very fruitful routes now,” Keyamo said.

Keyamo lamented that foreign airlines currently control between 90 and 95 per cent of passenger traffic from Nigeria to major destinations across the world, despite bilateral agreements that grant Nigerian airlines reciprocal rights to operate those routes.

The minister stressed that the government is determined to empower local carriers to compete effectively on international routes and retain a larger share of aviation revenue within the country.

“That market is our market. It doesn’t belong to anybody. Under those bilateral service agreements, we also have reciprocal rights to run those routes. They have to enter that market and eat part of that market,” he said.

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The minister noted that the newly approved routes were granted ahead of the airline’s full capacity to operate them, expressing confidence in the carrier’s ongoing expansion programme.

The announcement came as United Nigeria Airlines unveiled two newly acquired Boeing 737-800NG aircraft, further strengthening its fleet and operational capabilities.

The aircraft, registered as 5N-CFB and 5N-CFC, were named after His Royal Majesty Igwe Nnaemeka Achebe, the Obi of Onitsha, and legendary Nigerian novelist Professor Chinua Achebe.

The airline said the new aircraft will help improve operational efficiency, reduce flight disruptions, and support its plans for regional and international expansion.

Industry observers see the acquisition as a major milestone in the airline’s ambition to become one of West Africa’s leading carriers.

Keyamo also revealed that President Bola Tinubu approved the establishment of a Nigerian aircraft leasing company designed to support domestic airlines in acquiring aircraft through government-backed financing arrangements.

According to him, access to affordable aircraft financing remains one of the biggest challenges facing local airlines, and the initiative is expected to ease fleet acquisition and expansion.

The minister described the route approvals as the outcome of more than two years of policy reforms and stakeholder engagement aimed at revitalising Nigeria’s aviation sector.

“It took about two and a half years for us to begin to reap the fruits of the policy direction that we laid down,” he said.

Beyond route approvals, Keyamo disclosed that the Federal Government is partnering with the Abia State Government to develop an international airport in the state.

He said United Nigeria Airlines is expected to eventually use the facility as one of its operational hubs, while Enugu International Airport is being positioned as a major cargo hub for the South-East region.

The minister also defended the government’s decision to support private airlines instead of reviving a national carrier, citing the collapse of Nigeria Airways as an example of how political interference can undermine airline operations.

Speaking at the event, Boeing representative Moore Ibekwe commended reforms introduced by the Ministry of Aviation and the Nigerian Civil Aviation Authority (NCAA).

He highlighted recent efforts to improve aircraft financing, technical training, safety standards, and regulatory efficiency, describing them as critical to the future growth of Nigeria’s aviation industry.

Ibekwe also noted that Boeing recently launched a technical training programme in Nigeria to support the development of local pilots and engineers.

According to him, Africa is expected to require about 1,200 new aircraft over the next 20 years, creating significant opportunities for Nigerian airlines.

“When I look at these two aircraft behind us today, I see much more than two airplanes. I see enormous potential. I would like to see United Nigeria grow into a 50-aircraft airline within the next decade,” he said.

The airline’s expansion plans align with previous disclosures by its Chairman, Professor Obiora Okonkwo, who said the carrier intends to significantly increase its fleet and expand beyond domestic and regional operations.

United Nigeria Airlines currently operates across major Nigerian cities and serves regional destinations, including Accra, Ghana.

The airline has outlined plans to launch services to destinations such as London, Rome, Jeddah, Dubai, and New York, as it seeks to establish itself as a major player in international aviation.

For many industry stakeholders, the approval of the new routes represents a significant boost for United Nigeria Airlines and a major step toward increasing Nigeria’s presence in the global aviation market.

FG Approves New York, Canada, Dubai Routes for United Nigeria Airlines