The Nigerian National Petroleum Company Limited (NNPC) has announced that petrol sourced from the Dangote Refinery will be sold for over N1,000 per litre in parts of northern Nigeria.
In a statement released on Monday, NNPC spokesperson Olufemi Soneye revealed the pricing structure for September 2024, stating that the cost of petrol could reach up to N1,019 per litre in Borno State, and N999.22 in Abuja, Sokoto, Kano, and other northern locations.
For states in the southern region, such as Oyo and Rivers, the price will be set at N960 per litre, while Lagos and its surrounding areas will see the lowest price, at N950 per litre.
According to an infographic shared by NNPC, these are estimated pump prices for Premium Motor Spirit (PMS), or petrol, obtained from the Dangote Refinery. Soneye clarified that, under the Petroleum Industry Act, PMS prices are not determined by the government but negotiated between parties on a commercial basis.
Additionally, the company disclosed that the payment for the product loaded on Sunday was made in U.S. dollars, as naira transactions for PMS from the Dangote Refinery will only begin on October 1, 2024.
NNPC stated that if Dangote Refinery offers any price discount, it would be fully passed on to consumers. The estimated prices released apply to NNPC retail stations across the country based on the September 2024 pricing model.
This announcement follows a disagreement between NNPC and the Dangote Group on Sunday, when Dangote disputed NNPC’s claim that PMS was being sold at N898 per litre but did not release its own price list.
