Dangote Refinery sold petrol at N898/liter- NNPC

The Nigerian National Petroleum Company Limited (NNPC) has said it purchased Premium Motor Spirit (PMS), commonly known as petrol, from the Dangote Refinery at a rate of N898 per litre.

This revelation comes amidst growing anticipation about the impact of the refinery’s operations on fuel prices in Nigeria.

Olufemi Soneye, a spokesman for NNPC disclosed the price during an interview with a local news outlet.

“We successfully loaded PMS at the Dangote Refinery today,” he stated. “The claim that we purchased it at N760 per liter is incorrect. For this initial loading, the price from the refinery was N898 per liter,” Soneye said.

The Dangote Refinery, the largest in Africa, commenced operations earlier this year, raising hopes that it would help reduce Nigeria’s dependence on imported fuel and potentially lower fuel prices for consumers.

However, the confirmation of the higher-than-expected purchase price has sparked concerns about the potential impact on pump prices.