NNPC to sell Dangote petrol at N1,019/litre in Northern States, N950 in Lagos

.These estimated prices will be across NNPC retail stations nationwide based on September 2024 pricing.

The Nigerian National Petroleum Company (NNPC) has revealed the prices it will sell the petrol lifted from Dangote Refinery across the country.

Northern States like Borno will purchase the Premium Motor Spirit (PMS), popularly known as petrol at a price above N1,000 per litre.

This was revealed in a statement released on Monday by the NNPC Spokesperson, Olufemi Soneye titled ‘NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing’.

Soneye explained that the price may go for as high as N1,019/litre in the far North and N999.22 in Abuja, Sokoto,Kano, and others.

In States like Oyo, Rivers and other areas in the South, it will sell for N960 per litre.

For Lagos State and its environs, PMS will sell for N950 ler litre, which is considered the lowest according to an infographic released by the NNPC.

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

“The NNPC Ltd also wishes to state that, in line with the provisions of the Petroleum Industry Act, PMS prices are not set by the government, but negotiated directly between parties at an arm’s length,” he stated.

According to the company, the product loaded on Sunday was paid for in dollars.

“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 1, 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 per cent to the general public,” the statement added.

Soneye also stated that the estimated pump prices of PMS were obtained from Dangote Refinery and will be available based on September 2024 pricing that was agreed between the parties involved. This indicates that there could be a change in pricing again once naira transactions commences.