The Nigerian National Petroleum Company Limited (NNPC) has announced that petrol sourced from the Dangote Refinery will be sold at over N1,000 per litre in some northern regions.
In a statement issued on Monday by NNPC spokesperson Olufemi Soneye, titled ‘NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing,’ Soneye highlighted that petrol prices could reach as high as N1,019 per litre in states like Borno, with slightly lower rates such as N999.22 per litre expected in Abuja, Sokoto, Kano, and other northern areas. In southern regions such as Oyo and Rivers, the price is estimated to be N960 per litre.
The lowest estimated price, according to an infographic provided by the NNPC, is set at N950 per litre for Lagos and surrounding areas.
In the statement, Soneye clarified that the pricing of Premium Motor Spirit (PMS), commonly referred to as petrol, sourced from the Dangote Refinery for NNPC retail stations, is aligned with the Petroleum Industry Act. He noted that the prices are determined through direct negotiations and are not set by the government.
The NNPC also mentioned that the petrol loaded from the refinery on Sunday was purchased in U.S. dollars, with payments in naira expected to start on October 1, 2024.
The statement added that the NNPC would welcome any discounts offered by the Dangote Refinery and assured that such savings would be fully passed on to consumers.
This announcement follows a disagreement between the NNPC and Dangote Group on Sunday over the pricing of PMS, where Dangote Group denied selling the product at N898 per litre but did not provide an official price list.
