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•Senegal highest at N2,463
By Adewale Sanyaolu
The Major Energies Marketers Association of Nigeria (MEMAN) has revealed that Nigeria currently offers the cheapest Premium Motor Spirit (PMS), commonly known as petrol, in West Africa, priced at just N739 per litre.
The finding comes from the latest Energy Bulletin published on Wednesday by the MEMAN Competency Centre, which compared petrol prices across 12 countries in the region.
Out of the 12 countries sampled, Nigeria ranked lowest, followed by Liberia with a price of N1,337.12 per litre, Togo; N1,777.00, Benin; N1,816.33, Ghana; N1,889.16, Guinea; N2,011.51, Sierra Leone; N2,020.25, Mali; N2,024.62, Ivory Coast; N2,142.60, Cameroun; N2,195.04, Burkina Faso; N2,221.25 and Senegal; N2,463.32.
For ex-depot price of petrol, the MEMAN statistics for Lagos showed a range of N700.50 per litre to N800.00, Warri; N765.00 per litre to N780.00, Calabar; N773.00 to N775.00 and Port Harcourt N60.000 to N765.00.
Nigeria’s lowest price in West Africa may not be unconnected with the recent slash by Dangote refinery’s retail price through its lead partner, MRS filling station from N860 to N739 per litre.
The National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Alhaji Abubakar Maigandi Shettima, recently called on all its members nationwide to patronise the Dangote Refinery in their purchase of PMS products, noting that the refinery already offers the best affordable price for all marketers, even as free delivery commences in January 2026.
The association also expressed delight over a recent agreement by the Dangote Petroleum Refinery to begin the supply of Premium Motor Spirit (PMS)- also known as petroleum- products directly to registered IPMAN members.
IPMAN also applauded the support of the Chairman of Dangote Petroleum Refinery, Aliko Dangote towards the Federal Government, which it noted has become evident in the regular reduction of the petroleum pump price.
According to Shettima, “the association has the highest percentage of the supply chain of the PMS downstream sector, controlling over 80 per cent of the PMS retail market. We therefore declare that there will be no gap or scarcity in PMS supply to Nigerians.
“We are also excited at the recent agreement by the Dangote Refinery to begin the supply of PMS products directly to registered IPMAN members, and its free delivery to our filling stations anywhere and everywhere in Nigeria which will commence in January 2026.
“This will again, certainly lead to further decrease in the pump price of the products at our filing stations. Therefore, I am calling on all IPMAN members nationwide to prioritise patronising the Dangote Refinery in their purchase of PMS products, as they already offer the best affordable prize for all marketers today,’’.
The IPMAN boss noted that “At IPMAN we have no doubt as to the viability of the oil and gas policies being initiated by the Federal Government, and we have ceaselessly called and sought for enhanced cooperation across all levels of governance in the oil and gas sector. Hence our repeated persuasion to always partner the Dangote refinery, to ensure the steady availability of PMS products.
“The focus of the Dangote & IPMAN partnership has always been geared towards making life better for Nigerians. And of course, this blooming partnership would never have been possible without the pragmatic leadership of President Bola Tinubu, and his sound judgment in readjusting the leadership of the NMDPRA and the NUPRC.
“Our position has always been to deepen domestic refining in order to eradicate imports of petroleum products. Continuous import is NOT an acceptable parallel business model, because issuing import licenses recklessly distorts market dynamics, drains foreign exchange, enthrones poverty, destroys jobs, and scares potential investors away,” Shettima added.
The association congratulated the new heads of the oil & gas regulatory bodies, and reminded them of the long outstanding bridging claims owed its members totalling over N190 billion.
“We specifically call on the NMPDRA new leadership to immediately make this debt a cause for serious concern as he assumes his new position”, the statement added.
