The Nigerian National Petroleum Company Limited (NNPC) has announced new estimated petrol pump prices for all states following the completion of Premium Motor Spirit (PMS) loading from the Dangote Refinery for September 2024.
On Sunday, September 15, NNPC purchased 16.8 million liters of petrol from the Dangote Refinery at N898 per liter.
The new pricing for September is as follows: Borno State – N1,019.22 per liter; Sokoto State – N999.22 per liter; Kano State – N999.22 per liter; Kaduna State – N999.22 per liter; Federal Capital Territory (FCT) – N992.22 per liter; Rivers State – N980.22 per liter; Oyo State – N960.22 per liter; and Lagos State – N950.22 per liter.
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NNPC clarified that these prices are based on data from the Dangote Refinery and are not set by the federal government.
According to Olufemi Soneye, NNPC’s spokesman, these prices will be effective for September 2024. He also noted that the petrol purchased from the Dangote Refinery was priced in dollars, with Naira-based sales of petrol expected to begin in October.
“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 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 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.”
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