Breaking: NNPC to charge N1,019 per litre for Dangote fuel in Borno and N950 in Lagos

In some states around the country, the Nigerian National Petroleum Company (NNPC) Limited has announced the prices at which it will sell petrol that was removed from the Dangote Refinery.

It stated that in the extreme north, it will sell for more than N1,000 per litre.
In a statement headlined "NNPC Ltd releases estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing," the NNPC spokesperson, Olufemi Soneye, revealed this information on Monday.
According to a transaction insider at the NNPCL on Sunday, the price per litre of supplies from the Dangote Refinery was N898.

However, Dangote called the implied plant cost of N898 per litre "misleading and mischievous" in a statement.

Soneye responded to Dangote's statement by confirming that the refinery charges N898 per litre.

"What is the price if it isn't N898?" he asked. Let them tell Nigerians how much it really costs.

"For the product, we have provided Letters of Credit, and an invoice is attached. Permit them to reveal the cost.
Soneye clarified in the statement released on Monday that the price might reach N1,019 per litre in Borno State and N999.22 in Abuja, Sokoto, Kano, and other locations.

An infographic published by the NNPC states that N950 is the lowest price in Lagos and the surrounding areas.
It would cost N960 per litre in Oyo and N980 per litre in Rivers.

"Premium Motor Spirit, also known as petrol (obtained from the Dangote Refinery), is expected to cost the following amounts at each of the NNPC Ltd.'s retail stations nationwide."The NNPC Ltd also wishes to clarify that PMS prices are negotiated directly and at arm's length between partners, in accordance with the terms of the Petroleum Industry Act, he said.

The business clarified that it had paid in dollars for the product that it loaded on Sunday.

As naira transactions won't start until October 1, 2024, The NNPC Ltd. can affirm that it is paying Dangote Refinery in USD for September 2024 PMS offtake.

In the event that the listed pricing is contested, "NNPC Ltd. guarantees that it will be appreciative of any discount from the Dangote Refinery, which will be passed on 100% to the general public," the statement continued.

According to him, the Dangote Refinery provided the predicted pump costs for PMS, which will be applied to all NNPC retail stations nationwide based on September 2024 pricing.