NNPCL releases Nationwide pump prices for petrol from Dangote Refinery

The Nigerian National Petroleum Company (NNPCL) has announced the estimated prices of Premium Motor Spirit (Petrol) from Dangote Refinery at its retail stations across the country, effective September 2024.

According to NNPCL’s Spokesperson, Olufemi Soneye, the company purchased petrol from Dangote Refinery at N898.78 per liter. The estimated prices, including logistics, will vary by location:

– Lagos: N950.22 per litre
– Abuja, Sokoto, and Kano: N999.22 per litre
– Rivers, Bayelsa, Akwa Ibom, Imo, and other states: N980 per litre
– Oyo State: N960.22 per litre
– Borno State: N1,019.22 per litre

NNPCL emphasized that, in accordance with the Petroleum Industry Act (PIA), petrol prices are negotiated directly between parties and not set by the government.

Notably, NNPCL confirmed it is paying Dangote Refinery in US dollars for the September 2024 offtake, with Naira transactions commencing on October 1, 2024.

The company assured that any disputed pricing will be reviewed, and potential discounts from Dangote Refinery will be passed on entirely to the public.

This announcement follows the lifting of petrol from Dangote Refinery on Sunday, marking a significant development in Nigeria’s petroleum industry.

However, Dangote Group Spokesperson Anthony Chiejina disputed NNPCL’s claim of purchasing petrol at N898 per liter, sparking a potential pricing controversy.”