The Nigerian National Petroleum Company Limited has pegged fuel it lifted from the Dangote refinery in September to be sold to the public at N950 in Lagos and above N1,000 per litre in the north.

 

In a statement released on Monday by the NNPC spokesperson, Olufemi Soneye, titled, ‘NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing’ northern states such as Borno Sokoto, Kano, among others including Abuja will pay more for fuel at the rate of N999.22 per litre or more, while other states like Oyo, Rivers among other states in the South except Lagos will buy at N960 per litre.

 

“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,”.

“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 stated.

The statement added the new pump prices stated were obtained from the Dangote refinery and is based on pricing for September and will be effected in all NNPC retail stations across the country, Dare Olawin.