NNPC to sell Dangote refinery petrol over N1,000/litre in north

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced that petrol sourced from the Dangote Refinery will be sold at prices exceeding N1,000 per litre in the far northern regions of Nigeria.

NNPC spokesperson Olufemi Soneye made this disclosure in a statement titled “NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing.”

According to Soneye, petrol prices could reach up to N1,019 per litre in states such as Borno, while in Abuja, Sokoto, and Kano, it will be around N999.22 per litre.

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In contrast, the price is set at N960 per litre in southern states like Oyo and Rivers, with Lagos and its surroundings seeing the lowest price of N950 per litre.

Soneye clarified that these prices are based on recent transactions and in accordance with the Petroleum Industry Act, which dictates that PMS prices are negotiated between parties and not set by the government. He further explained that the petrol delivered was paid for in US dollars, with naira transactions scheduled to start on October 1, 2024.

The NNPC Ltd. has assured that any disputes regarding the quoted prices will be addressed, and any discounts from the Dangote Refinery will be fully passed on to consumers.

This update comes amid a disagreement with Dangote Group, which had previously contested the NNPC’s claim of a price of N898 per litre, but has yet to release its own pricing details.