The Nigerian National Petroleum Company Limited says it will sell petrol lifted from Dangote Refinery at N950 per litre in Lagos and as much as N999.22 in Abuja, Sokoto, Kano, and others.
However, a litre could go as high as N1,019/ litre in Borno. It will however sell at N960 per litre in Oyo, Rivers and other areas in the South. Hence petrol prices will no longer be the same across the country. The prices will depend on costs incurred on logistics.
This was disclosed by Olufemi Soneye, NNPC spokesperson, on Monday, in a statement entitled, ‘NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing.’
“The NNPC Ltd has released estimated prices of Premium Motor Spirit, also known as petrol (obtained from the Dangote Refinery) in its retail stations across the country.
“The NNPC Ltd also wishes to state that, in line with the provisions of the Petroleum Industry Act, PMS prices are not set by the government, but negotiated directly between parties at an arm’s length,” Soneye said.
“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 1, 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 per cent to the general public,” the statement added.
The NNPC had revealed that it bought a litre of petrol from Dangote Refinery at N898/litre on Sunday.
But this was later countered by Dangote Refinery.
In its statement, Dangote Industries said that the claim was both misleading and mischievous, aimed at undermining the significant achievement of the Dangote Refinery in addressing Nigeria’s energy crisis.
The company clarified that the products were sold to NNPC in dollars at a substantial saving compared to the current import prices.
The refinery further assured Nigerians of the availability of quality petroleum products and an end to the persistent fuel scarcity in the country. .
“We urge Nigerians to disregardmalicious statement and await a formal announcement on the pricing, by the Technical Sub-Committee on Naira-based crude sales to local refineries, appointed by His Excellency, President Bola Ahmed Tinubu GCFR, which will commence on October 1, 2024, bearing in mind that our current stock of crude was procured in dollars,” Anthony Chiejina, chief branding and communications officer, Dangote Group, said.
These developments add another layer of complexity to the ongoing debate surrounding fuel prices in Nigeria. While the NNPCL has maintained the official pump price at a lower rate, consumers have reported paying higher prices at some stations, raising concerns about potential price gouging.
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