The Nigerian National Petroleum Company Limited has announced that petrol from the Dangote Refinery will be sold at prices exceeding N1,000 per litre in certain areas in the far north. NNPC spokesperson, Olufemi Soneye, revealed this information in a statement titled, ‘NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing’.
Soneye highlighted that prices could reach as high as N1,019 per litre in regions like Borno State, and N999.22 in locations such as Abuja, Sokoto, and Kano. In states like Oyo, Rivers, and other southern areas, the price is expected to be N960 per litre.
According to NNPC’s information, the lowest price will be N950 in Lagos and its surrounding areas. The NNPC emphasized that petrol prices are determined through negotiations between parties at arm’s length, as stipulated in the Petroleum Industry Act, rather than being set by the government.
The company clarified that the petrol loaded on Sunday was paid for in dollars and that payments in naira would commence on October 1, 2024. If there are any disputes regarding the quoted pricing, NNPC assured that any discounts obtained from the Dangote Refinery would be fully passed on to the public.
The estimated pump prices of PMS were sourced from the Dangote Refinery and will be implemented at NNPC retail stations nationwide, based on pricing data from September 2024. Previously, there was a discrepancy between NNPC and the Dangote Group regarding the selling price of PMS, with the latter stating a price of N898 but not releasing a price list.