NNPC has confirmed petrol prices from Dangote Refinery across Nigeria will be sold at N950/litre in Lagos, N1,019 in Borno.
Early Monday norning, the NNPC released estimated prices of petrol obtained from the Dangote Refinery in its retail stations across the country, stressing that in line with the provisions of the Petroleum Industry Act (PIA), petrol prices are not set by government, but negotiated directly between parties.
“The NNPC 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 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.
In the attached document, the NNPC stated that fuel from the Dangote refinery will sell for N950.22 per litre in Lagos; N960.22 in Oyo; N980.22 in Rivers; N992.22 in Abuja; N999.22 in in Kaduna; N999.22 in Kano; N999.22 in Sokoto and N1,019 in Borno, based on the September pricing template.
A breakdown indicated that the final price from the Dangote refinery was N898.78, according to the statement, while distribution in Lagos is N15 per litre, inspection fee is N0.97, NMDPRA fee is N8.99, with an expected margin of N26.48.
This is coming just as the NNPC has assured Nigerians that the lingering petrol scarcity and the long queues at filling stations will disappear in the next few days with the loading of refined petroleum products which commenced at the Dangote Refinery in Lagos on Sunday.
The national oil company also stressed that the pump price of petrol from the refinery would not be fixed by either the NNPC or Dangote Refinery, saying it would henceforth be purely determined by market forces.