The Nigerian National Petroleum Company Limited, (NNPC Ltd) today announced new fuel pump prices nationwide.
This is after it lifted the first batch of fuel from the 650,000 barrel per day capacity Dangote Refinery and Petrochemical at Free Zone, Lekki, Lagos that was built with about $20bn.
Chief Corporate Communications Officer, NNPC Ltd, Olufemi Soneye, revealed this in a statement titled: “NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery, Based on September 2024 Pricing.”
According to the template, fuel pump price in NNPC Ltd stations in Lagos State is N950.22; Oyo, N960.22; Federal Capital Territory (FCT) Abuja, N992.22; Rivers, N980.22; Sokoto, N999.22; Kano, N999.22, Kaduna, N999.22; and Borno State, N1,019.22.
Soneye said: “The NNPC Ltd has released estimated prices of Premium Motor Spirit (PMS), 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 (PIA), PMS prices are not set by the 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.
“Attached to this statement are the estimated pump prices of PMS (obtained from the Dangote Refinery) across NNPC Retail Stations in the country, based on September 2024 pricing.”