The Nigerian National Petroleum Company Limited (NNPCL) has announced that petrol sourced from the Dangote Refinery will be sold for no less than ₦950 per litre in Lagos. NNPCL spokesperson, Olufemi Soneye, made this known in a statement titled, ‘NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing’.
According to the statement, the price of Premium Motor Spirit (PMS) will be determined by negotiations between NNPCL and Dangote Refinery, following the guidelines of the Petroleum Industry Act (PIA). The company also revealed that payment for September’s petrol supply will be made in US dollars, with Naira transactions set to commence from October 1, 2024.
The estimated prices across various regions show that the cost of petrol will range from ₦950 per litre in Lagos to as high as ₦1,019 per litre in Borno State, while Abuja, Kano, and Sokoto will see prices around ₦999.22 per litre. In states like Oyo and Rivers, petrol will be sold at ₦960 per litre.
Earlier, the Dangote Group disputed claims that it was selling petrol at ₦898 per litre but did not release an official price list. Meanwhile, NNPCL confirmed that it had successfully lifted 16.8 million litres of petrol from the Dangote Refinery as of Sunday. Spokesperson Femi Soneye clarified that the initial loading price was ₦898 per litre, and by 4 pm on Sunday, 70 trucks had been loaded with petrol.
The Dangote Refinery, which commenced operations in December 2022, is currently processing 350,000 barrels of crude per day, with plans to reach full capacity of 650,000 barrels per day by the end of 2024. It has already begun supplying diesel, aviation fuel, and now petrol to the Nigerian market.
