The Nigerian National Petroleum Company Limited (NNPCL) has released the petrol pricing details from the Dangote refinery at its retail stations across various states in Nigeria.
In a social media post on Monday, the NNPC said the estimated pump price is based on prices set by the Dangote refinery for its petroleum products.
According to the price map shared by the NNPC, residents in the northern part of Nigeria will pay more for the product while those in Lagos will pay less.
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 statement partly reads, “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 the Government but negotiated directly between parties at 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.”
Below are the estimated prices of petrol across the country provided by NNPCL
Lagos State: N950.22 (South West)
Oyo State: N960.22 (South West)
Rivers State: N980.22 (South-South)
Imo State: N980.22 (South East)
FCT: 992.22 (North Central)
Kaduna: N999.22 (North West)
Kano: N999.22 (North West
Sokoto: N999.22 (North West)
Borno State: 1,019.22 (North East)
It is suggested that aside from Lagos and Abuja, every region will have an even price. This means that since the expected petrol price for Oyo State (South West) is N960.22/litre other states in the region like Osun, Ekiti, and others are expected to buy it at that price too.
The NNPC began loading PMS from the Dangote refinery on Sunday 15th September, 2024 after months of delays both from the NNPC on the price and other business details and also the final work on the part of the refinery.
READ ALSO: Trucks begin PMS loading at Dangote refinery
Before operations began, Femi Soneye, Chief Corporate Communications Officer (CCCO) of NNPC Ltd, announced on Saturday that by the end of the day, at least 300 trucks would be positioned at the refinery’s loading gantry, ready for the scheduled petrol loading on Sunday, September 15.
Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, recently announced that NNPCL would serve as the exclusive off-taker for refined petrol from the Dangote Refinery.
During the Technical Sub-Committee meeting on the sale of crude oil to local refineries in Naira, Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), representing the Finance Minister, explained that while diesel from Dangote Refinery would be available for purchase in Naira to any interested off-taker, PMS (petrol) would only be sold to NNPCL, which would then distribute it to various marketers.
Additionally, he confirmed the finalisation of agreements and procedures for implementing the Federal Executive Council (FEC) approval, which allows for the sale of crude oil to local refineries in Naira and the corresponding purchase of petroleum products in Naira. This decision was previously endorsed by the FEC under President Tinubu’s leadership.
The government explained that this initiative was designed to ease pressure on the Naira, cut down on unnecessary transaction costs, and enhance the availability of petroleum products across the country.
Source: Intelregionnews
