NNPCL Unveils Petrol Price Structure for Dangote Refinery

Dangote Refinery: Petrol to Sell at N1,019/L in North, N950/L in South

Soneye further explained that the initial petrol lift on Sunday was settled in US dollars, with plans to switch to naira transactions starting...

NNPCL announces estimated petrol prices from Dangote Refinery, ranging from N950 to N1,019 per litre, depending on location, with prices set to be adjusted based on discounts and naira transactions starting October 1, 2024.

The Nigerian National Petroleum Company Limited (NNPCL) has announced that petrol from the Dangote Refinery will be sold at a premium price in the northern regions of Nigeria. According to a statement released on Monday, September 16, by NNPCL spokesperson Olufemi Soneye, the estimated pump prices for Premium Motor Spirit (PMS) from the Dangote Refinery are based on September 2024 pricing.

The prices are expected to vary by location, with the highest price point reaching N1,019 per litre in states like Borno. In other areas, such as Abuja, Sokoto, and Kano, the price is estimated to be around N999.22 per litre.

In the southern regions, the price of petrol from the Dangote Refinery is expected to be lower, with states like Oyo and Rivers paying N960 per litre. Lagos and its surrounding areas will have the lowest price point at N950 per litre, according to the NNPCL's estimates.

NNPCL spokesperson Olufemi Soneye explained that the estimated prices for petrol are based on figures provided by the Dangote Refinery for September 2024. He noted that, in line with the Petroleum Industry Act, the government does not regulate petrol prices; instead, prices are determined through direct negotiations between the parties involved.

Soneye further explained that the initial petrol lift on Sunday was settled in US dollars, with plans to switch to naira transactions starting October 1, 2024. The NNPCL reassured the public that any discounts offered by the Dangote Refinery would be fully passed on to consumers.

This pricing announcement comes after a dispute between the Dangote Group and NNPCL. The Dangote Group had denied claims of selling petrol at N898 per litre, but had not released its own price list at the time, leading to the public announcement of estimated prices by the NNPCL.