By Chris Udochukwu
Precise Post can authoritatively report that the Nigerian National Petroleum Company Limited (NNPCL) has said that it will sell the petrol lifted from the Dangote Refinery at a price above N1,000 per litre in the far north.
The NNPC spokesperson, Olufemi Soneye, disclosed this on Monday, in a statement titled, ‘NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing’.
Soneye explained 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.
In Oyo, Rivers and other areas in the South, it will be N960 per litre.
The lowest price, according to an infographic released by the NNPC, is N950 in Lagos and its environs.
“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.
Precise Post recalls 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.
The full statement released by NNPCL on Monday reads in full:
NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery, Based on September 2024 Supply
The NNPC Ltd. has released estimated prices of Premium Motor Spirit (PMS), also known as Petrol (obtained from the Dangote Refinery) in its retail stations across the country.
The estimated prices are based on negotiated terms between NNPC Ltd. and Dangote Refinery which recognise the current international gasoline prices and the prevailing foreign exchange rate in line with the provisions of the Petroleum Industry Act (PIA) 2021.
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.
We reassure Nigerians that any discount from the Dangote Refinery will be passed on 100% to the general public.
Olufemi Soneye
Chief Corporate Communications Officer
NNPC Ltd.
Abuja
16th September, 2024
