BREAKING: NNPC releases nationwide Dangote petrol prices … N1,019 in Borno, N950 in Lagos

• Recall that the Dangote Group had disagreed with the NNPC on Sunday that it was selling PMS at N898, but it failed to release its price list.
• In Oyo, Rivers and other areas in the South, it will be N960 per litre.

The Nigerian National Petroleum Company Limited has announced plans to sell petrol from the Dangote Refinery at a premium rate exceeding N1,000 per litre in northern regions.

This is made known in a statement released on Monday by Olufemi Soneye, the NNPC’s media representative.

Soneye explained that the price of petrol from the Dangote Refinery will vary across the country, ranging from N960 per litre in southern states like Oyo and Rivers, to N999.22 per litre in Abuja, Sokoto, Kano, and N1,019 per litre in remote northern states like Borno.

The NNPC’s infographic shows that the lowest price point is N950 per litre in Lagos and surrounding areas.

“The NNPC Ltd has released estimated prices of Premium Motor Spirit (PMS), also known as Petrol (obtained from the Dangote Refinery) in its retail stations across the country,” the statement reads.

“The NNPC Ltd also wishes to state that, in line with the provisions of the Petroleum Industry Act (PIA), PMS prices are not set by Government, but negotiated directly between parties on an arms length.

“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 1st, 2024.”

“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% to the general public.

The spokesperson further clarified that the estimated pump prices were sourced from the Dangote Refinery and will be applicable across NNPC retail stations nationwide, based on September 2024 pricing.