‘N950/litre’: NNPCL releases petrol pump price after loading from Dangote refinery

The Nigerian National Petroleum Company Limited (NNPCL) has released the estimated pump prices of Premium Motor Spirit (PMS), fondly called petrol, in its retail stations across the country.

The NNPCL noted that the estimated pump price was obtained from the Dangote refinery.

This is coming after the Dangote refinery refuted claims that the company sold petrol to the NNPCL at N898 per litre.

The NNPCL spokesperson, Olufemi Soneye, disclosed that the company bought petrol from the refinery at N898 per litre on Sunday, September 15, 2024.

Speaking on the development via a statement on Sunday, the Group Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, described Soneye’s statement as “misleading and mischievous”.

However, Soneye, in a statement issued on Monday, September 16, revealed that the NNPCL has been paying the Dangote refinery in the United States dollar for petrol loading in September, saying transactions in naira will commence on October 1, 2024.

‘It’s misleading’: Dangote speaks on N898/litre petrol sale to NNPCL

He said: “The NNPC Ltd also wishes to state that, in line with the provisions of the Petroleum Industry Act (PIA), PMS prices are not set by government, but negotiated directly between parties on an arms 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 1st, 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% to the general public.”

The estimated pump prices of petrol showed that the product will be sold at N950 per litre in NNPCL retail stations in Lagos State.

The Star