The Nigerian National Petroleum Company (NNPC) Limited has released the retail prices of petrol across it stations nationwide following Sunday’s supply from Dangote Refinery.
The oil firm on Monday said petrol will be sold at N950.22 per litre across all its retail outlets in Lagos, N980.22 per litre in Rivers, N999.22 per litre in Kaduna and N1,019.22 per litre in Borno state.
In a press release posted on its X (Twitter) handle Monday morning, NNPC said the estimated pump price is based on prices set by the Dangote refinery for its petroleum products.
It explained that Dangote Refinery sold its September petrol in dollars at $0.52 per litre. The firm however, noted that naira transactions will begin on October 1st, 2024.
The residents in the northern part of Nigeria will pay more for the product, while Lagos will pay the least, according to the prices released by the NNPC.
THE PRESS RELEASE
NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery, Based on September 2024 Supply
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.
Olufemi Soneye
Chief Corporate Communications Officer
NNPC Ltd.
Abuja16th September, 2024
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.