The Nigerian National Petroleum Company Limited (NNPCL) has announced that it will sell the petrol lifted from the Dangote Refinery at a price above N1,000 per litre in some parts of the north.
The Chief Corporate Communications Officer of NNPCL , Olufemi Soneye, announced the new price regime on Monday, in a statement titled, ‘NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing’.
Soneye stated that the price may go for as high as N1,019/litre in places like Borno State, and N999.22 in Abuja, Sokoto, Kano, and others. He added that NNPCL bought the product in USD and will accept a discount from the refinery to reduce the price for end users.
In Lagos where Dangote Refinery is located, NNPCL will sell fuel for N950.
In Oyo, Rivers and other areas in the South, it will be N960 per litre.
The statement read in part: “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.
“The NNPC Ltd also wishes to state that, in line with the provisions of the Petroleum Industry Act (PIA), PMS prices are not set by Government, but negotiated directly between parties on an arms length.
“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 1st, 2024.
“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% to the general public”.
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