The Nigerian National Petroleum Company (NNPC) Limited has announced the estimated retail prices for Premium Motor Spirit (PMS), commonly referred to as petrol, sourced from the Dangote Refinery.
In a statement issued on Monday, NNPC’s Chief Corporate Communications Officer, Olufemi Soneye said the prices apply across its network of retail stations nationwide.
Mr Soneye revealed that the Dangote Refinery supplied petrol for 898.78 Naira per litre.
NNPC Limited further clarified that, per the provisions of the Petroleum Industry Act (PIA), PMS prices are no longer set by the government but are instead negotiated on a commercial basis between the parties involved, ensuring market-driven pricing.
The statement partly read: “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.
“Attached to this statement are the estimated pump prices of PMS (obtained from the Dangote Refinery) across NNPC Retail Stations in the country, based on September 2024 pricing.”
The New Daily Prime earlier reported that the Dangote Refinery disputed the Nigerian National Petroleum Corporation Limited’s (NNPCL) claim that Premium Motor Spirit (PMS), commonly known as petrol, was sold at ₦898 per litre during a recent fuel lifting from the refinery in Lagos.
Dangote Refinery refuted the statement after NNPCL’s Chief Corporate Communications Officer, Mr Soneye, was quoted as saying that the state-run oil company purchased petrol from Dangote at ₦898 per litre, contradicting earlier reports that placed the sale price at ₦766 per litre.
