After lifting petrol from the Dangote Refinery on Sunday, the Nigerian National Petroleum Company Limited (NNPCL) has said that it would sell the product at a price above N1,000 per litre in the far North.
The nation’s oil giant explained that the product it loaded on Sunday was paid for in dollars.
This was disclosed on Monday in a statement by the nation’s oil firm’s spokesperson, Olufemi Soneye.
In the statement titled: ‘NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing,” Soneye explained that the price might be as high as N1,019/litre in places like Borno State and N999.22 in Abuja, Sokoto, Kano and other states, while in Oyo, Rivers and other areas in the South, it will be sold at N960 per litre.
An infographic released by the NNPC indicated that the lowest price 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,” Soneye said.
“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 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 statement said.
“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.
Soneye said that the estimated pump prices of petrol were obtained from the Dangote Refinery and would be across NNPCL retail stations in the country, based on September 2024 pricing.
Recall that the Dangote Group had disagreed with the NNPCL on Sunday that it was selling PMS at N898, but it failed to release its price list.
