The Nigerian National Petroleum Company (NNPC) Limited has announced the estimated pump prices for petrol lifted from the Dangote Refinery, with prices exceeding N1,000 per litre in some northern states. According to a statement released on Monday by NNPC spokesperson Olufemi Soneye, the price of petrol in Borno State will be as high as N1,019 per litre, while in Lagos, the lowest price will be N950 per litre.
The statement, titled “NNPC Ltd releases estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing,” outlines that Abuja, Sokoto, and Kano will see prices around N999 per litre, while other southern regions like Oyo and Rivers will experience prices closer to N960 per litre.
Soneye emphasized that these figures are based on the cost of supply from the Dangote Refinery, which is currently set at N898 per litre. “If it is not N898, then what is the price? Let them inform Nigerians of the actual cost,” Soneye remarked, referring to statements by Dangote disputing the reported cost.
“The NNPC Ltd has released estimated prices of Premium Motor Spirit (PMS) obtained from the Dangote Refinery, and these prices will apply across NNPC retail stations nationwide,” Soneye added.
Soneye also confirmed that payments for the product loaded on Sunday were made in U.S. dollars, with naira transactions set to begin in October. He further assured that any discounts from Dangote Refinery would be passed on to the public.
This development comes amid discussions about the regulation of fuel prices in Nigeria, as the Petroleum Industry Act stipulates that prices are to be negotiated between parties rather than set by the government.
NNPC’s announcement follows Dangote’s statement calling the reported refinery cost of N898 per litre “misleading and mischievous.”
