The Nigerian National Petroleum Company has issued a breakdown of expected Premium Motor Spirit (Petrol) prices from the Dangote Refinery in retail stations across the country for September 2024.
Olufemi Soneye, NNPCL’s spokesperson, confirmed this in a statement on Monday.
The corporation acknowledged that it will pay Dangote Refinery in US dollars for the September 2024 PMS offtake.
The state-owned business stated that the Dangote Refinery Petrol gantry was purchased for N898.78 per liter.
As a result, the expected cost of fuel in Lagos, including logistics, will be N950.22 per liter.
In other areas, such as the Federal Capital Territory (Abuja), Sokoto, and Kano states, fuel is expected to cost N999.22 a litre.
Rivers, Bayelsa, Akwa Ibom, Imo, and other states were at N980, with Oyo State at N960.22.
Finally, Borno State has the highest pump price, which is N1,019.22 per liter.
According to Soneye:
“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 the Government, but negotiated directly between parties at an arm’s 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 percent to the general public.
“Attached to this statement are the estimated pump prices of PMS (obtained from the Dangote Refinery) across NNPC Retail Stations in the country, based on September 2024 pricing,” he stated.
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cc: Daily Post Ng
