The Nigerian National Petroleum Company Limited (NNPCL) has disclosed that petrol from the Dangote Refinery will be sold at a price above N1,000 per litre in the northern regions of the country.
In a statement released on Monday, NNPC spokesperson Olufemi Soneye revealed the estimated pump prices of Premium Motor Spirit (PMS) for September 2024, based on current logistics and pricing structures.
According to the NNPC, petrol will sell for as high as N1,019 per litre in Borno State, while Abuja, Sokoto, and Kano will see a price of N999.22 per litre.
In the southern regions, including Oyo and Rivers, the price will range between N960 and N980 per litre. The lowest price, N950 per litre, will be seen in Lagos and its environs.
The NNPC clarified that, under the provisions of the Petroleum Industry Act (PIA), the government does not set fuel prices. Instead, prices are negotiated directly between the involved parties.
Soneye also emphasized that the company is paying the Dangote Refinery in U.S. dollars for the September offtake, with Naira transactions expected to commence on October 1, 2024.
The company also expressed willingness to pass on any potential discount from the Dangote Refinery to the public, if such a reduction were negotiated.
Earlier, the Dangote Group had disputed NNPC’s claim that it was selling PMS at N898 per litre.
However, the Dangote Group did not release its own price list. This development comes after NNPC began lifting petrol from the Dangote Refinery on Sunday.
