Abuja, Sept. 16, 2024 – The Nigerian National Petroleum Company Limited (NNPCL) on Monday announced new estimated prices of petrol from the Dangote Refinery in September 2024.
A statement from the NNPCL estimated the pricing forecast of what Nigerians will pay at NNPCL retail stations across country.
The statement issued by Olufemi Soneye, the Chief Corporate Communications Officer of NNPCL via his X handle, said that in line with the provisions of the Petroleum Industry Act (PIA), petrol prices are not regulated by the government, but are the result of direct negotiations between parties
According to the statement, the estimated price of PMS in Lagos is expected to be around N950.22 per litre, while consumers in Borno State may pay as much as N1,019.22 per litre.
Other states such as Sokoto, Kano, Kaduna, and the Federal Capital Territory (FCT) are projected to see prices around N999 per litre.
NNPCL said the NNPCL would pay Dangote Refinery in US dollars for the September 2024 petrol offtake, with naira-denominated transactions set to commence on 1 October 2024.
The company reassured Nigerians that in the event of any pricing disputes, NNPCL would pass on any discounts from Dangote Refinery directly to the public.
“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 Government but negotiated directly between parties on 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% to the general public,” the statement said.
It said the attached pricing estimates provided by NNPCL reflected the varying costs of distribution across the country, with the map showing higher prices in northern regions such as Borno and Sokoto, while southern states like Rivers and Imo will experience lower pump prices, around N980.22 per litre. (GBN)
