The Nigerian National Petroleum Company Limited (NNPC) has released estimated pump prices for petrol lifted from the Dangote Refinery, with prices varying across regions.
According to NNPC spokesperson, Olufemi Soneye, the prices range from N950 to N1,019 per litre. The highest price of N1,019 per litre will apply in states such as Borno, while Abuja, Sokoto, and Kano will pay N999.22 per litre. Oyo, Rivers, and other southern states will pay N960 per litre, while Lagos and its environs will enjoy the lowest price of N950 per litre.
“The NNPC Ltd has released estimated prices of Premium Motor Spirit, also known as petrol (obtained from the Dangote Refinery) in its retail stations across the country,” Soneye stated. “The NNPC Ltd also wishes to state that, in line with the provisions of the Petroleum Industry Act, PMS prices are not set by the government, but negotiated directly between parties at an arm’s length.”
The NNPC clarified that the product loaded on Sunday was paid for in dollars, with naira transactions set to commence on October 1, 2024. “The NNPC Ltd can confirm that it is paying Dangote Refinery in USD for September 2024 PMS offtake, as naira transactions will only commence on October 1, 2024.”
The company assured that any discount from the Dangote Refinery would be passed on 100% to the general public. “The NNPC Ltd assures that if the quoted pricing is disputed, it will be grateful for any discount from the Dangote Refinery, which will be passed on 100 per cent to the general public.”
This development follows a dispute between the NNPC and Dangote Group over the price of petrol, with Dangote denying selling PMS at N898 per litre. The estimated pump prices released by the NNPC provide clarity on the pricing structure for petrol from the Dangote Refinery.
