The Nigerian National Petroleum Company Limited has announced that petrol sourced from the Dangote Refinery will be sold at over N1,000 per litre in the far north.
NNPC spokesperson Olufemi Soneye shared this information on Monday in a statement titled “NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing.”
Soneye noted that in northern regions such as Borno State, the price could reach as high as N1,019 per litre, while in Abuja, Sokoto, Kano, and similar locations, it will be N999.22 per litre.
In the southern regions, including Oyo and Rivers states, the price will be N960 per litre. The lowest price, as indicated in an infographic released by NNPC, will be N950 per litre in Lagos and surrounding areas.
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“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, PMS prices are not set by the government, but negotiated directly between parties at an arm’s length,” he stated.
The company explained that the petrol it received on Sunday was paid for in U.S. dollars.
“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 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,” the statement added.
He stated that the estimated pump prices for PMS, based on September 2024 pricing, were provided by the Dangote Refinery and will be applicable across NNPC retail stations nationwide.
It is worth noting that the Dangote Group disputed NNPC’s claim on Sunday that PMS was being sold at N898 per litre, but did not release its own price list.
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