NNPC to sell Dangote Refinery petrol for N950 in Lagos, N1,019/ litre in Borno

The Nigerian National Petroleum Company Limited (NNPCL) has announced that petrol lifted from the Dangote Refinery will be sold at prices exceeding N1,000 per litre in parts of northern Nigeria.

In a statement released on Monday titled “NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing,” NNPC spokesperson Olufemi Soneye revealed the pricing breakdown for different regions.

According to Soneye, the price could reach N1,019 per litre in states like Borno, while Abuja, Sokoto, and Kano may see prices as high as N999.22 per litre.

In southern states like Oyo and Rivers, petrol will cost around N960 per litre, while Lagos and its surrounding areas will experience the lowest price at N950 per litre.

The price variations are influenced by the cost of logistics, transportation, and other operational factors across different regions of the country.

“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 product it loaded on Sunday was paid for in 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 of PMS were obtained from the Dangote Refinery and will be across NNPC retail stations in the country, based on September 2024 pricing.

Recall that the Dangote Group had disagreed with the NNPC on Sunday that it was selling PMS at N898, but it failed to release its price list.