The Nigerian National Petroleum Company Limited (NNPCL) has released estimated prices of Premium Motor Spirit (PMS), also known as Petrol, lifted from the Dangote Refinery in its retail stations across the country.
The company’s Chief Corporate Communications Officer, Olufemi Soneye, on Monday stated, in the ‘NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing’, that in line with the provisions of the Petroleum Industry Act (PIA), PMS prices were not being set by government, but negotiated directly between distributors and refiners
Soneye confirmed that state-controlled oil company was paying Dangote Refinery in USD for September 2024 PMS off-take, as Naira transactions would only commence on October 1st, 2024.
The management assured that if the quoted pricing remain disputed, it would be grateful for any discount from the Dangote Refinery, which will be passed on 100% to the general public.
The spokesman further clarified that the estimated pump prices of PMS obtained from the Dangote Refinery) across NNPC retail stations in the country, based on September 2024 pricing.
In the PMS pricing template, Soneye disclosed that the fuel pump price may sell at as high as N1,019/litre in places like Borno State, and N999.22 in Abuja, Sokoto, Kano, and others.
The template indicated that in Oyo and Rivers States and other areas in the Southern region, it will be sold at its filling stations at N960 per litre.
It would be recalled that the Dangote Group and the NNPCL had on Sunday disagreed that the latter was lifting PMS at N898 from its refinery.
While Dangote, in a statement, claimed that the insinuated plant cost per litre of N898 was “misleading and mischievous”, Soneye confirmed that the price per litre from the refinery was N898.
