NNPCL to sell Dangote petrol at N1,019/ litre in Borno, N950 in Lagos

NNPCL to sell Dangote petrol at N1,019/ litre in Borno, N950 in Lagos

Abdullateef Fowewe

The Nigerian National Petroleum Company Limited has announced new petrol prices sourced from the Dangote Refinery, with significant regional variations.

Effective immediately, petrol will be sold at N950.22 per litre in Lagos and N1,019.22 per litre in Borno State.

Other regions, such as Abuja, Sokoto, and Kano, will see prices around 999.22, while areas in the South like Oyo and Rivers will pay approximately N960 per litre.

NNPCL spokesperson Olufemi Soneye in a circular on Monday explained that these prices reflect transport costs and other factors, as NNPCL is the sole buyer of petrol from Dangote, stating that the pump prices of petrol from Dangote Refinery are based on September 2024 Pricing.

The NNPCL confirmed that the initial payments to Dangote for September deliveries were made in US dollars, with naira transactions set to begin on October 1, 2024.

The company on Sunday claimed that the supply from Dangote Refinery was at N898 per litre. But Dangote, in a statement described the claims by NNPCL as misleading and mischievous.

While responding to Dangote’s statement, NNPCL, insisted that the price of the petrol per litre from the refinery is N898 and dared Dangote to reveal the actual price if it is not N898.

The release reads, “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 estimated prices are based on negotiated terms between NNPC Ltd. and Dangote Refinery which recognise the current international gasoline prices and the prevailing foreign exchange rate in line with the provisions of the Petroleum Industry Act (PIA) 2021.

“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.

We reassure Nigerians that any discount from the Dangote Refinery will be passed on 100% to the general public.”