The Nigeria National Petroleum Company Limited (NNPC) has provided an updated version of the estimated price breakdown for petrol purchased from the Dangote refinery.
Earlier, PUNCH Online reported that on Monday morning, the NNPC released a chart detailing the price of petrol acquired from the refinery on Sunday, September 15.
According to the NNPC, payments to the Dangote refinery for the petrol supplied in September 2024 are being made in U.S. dollars, with Naira transactions set to begin on October 1, 2024.
The statement from NNPC reads: “NNPC Ltd. has released the estimated prices of Premium Motor Spirit (PMS), also known as petrol, sourced from the Dangote Refinery for distribution across its retail outlets nationwide.
“These prices are determined by the terms negotiated between NNPC Ltd. and Dangote Refinery, which take into account current international gasoline prices and the prevailing exchange rate, in compliance with the Petroleum Industry Act (PIA) 2021.
“NNPC Ltd. confirms it is paying in USD for the September 2024 petrol offtake, with Naira transactions commencing from October 1, 2024.”
In Borno, the price is set at ₦1,019 per litre, while in Lagos, it is ₦950. “We assure Nigerians that any discounts from the Dangote Refinery will be fully passed on to the public,” the statement adds.
Although the estimated prices remain unchanged across the country, the details of the transaction with Dangote Refinery have been revised.
The initial statement on Monday listed a Nigerian Midstream and Downstream Petroleum Regulatory Authority fee of ₦8.99, but the updated version reduced this to ₦4.495. The earlier release included an inspection fee of ₦0.97, a margin fee of ₦26.48, and a distribution fee of ₦15.
However, the revised statement removed the inspection and margin fees, while increasing the distribution fee to ₦42.45. Additionally, a Midstream and Gas Infrastructure Fund fee of ₦4.495 was introduced in the second release.
