The Nigerian National Petroleum Company Limited (NNPCL) has announced that petrol sourced from the Dangote Refinery will be sold at varying prices across the country, with the northern regions seeing the highest rates.
According to a statement titled “NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing,” issued by NNPC spokesperson Olufemi Soneye, petrol prices could go as high as ₦1,019 per litre in Borno State, while Abuja, Sokoto, Kano, and other northern states will see prices around ₦999.22 per litre.
In contrast, the southern regions will have slightly lower prices, with Oyo, Rivers, and others seeing prices of about ₦960 per litre. Lagos and its surrounding areas will have the lowest prices, at ₦950 per litre.
This disparity in pricing reflects the logistical and distribution challenges NNPCL faces. Soneye stated that, in line with the Petroleum Industry Act, PMS prices are not government-regulated but negotiated directly between parties.
NNPCL also confirmed that it is currently paying Dangote Refinery in USD for petrol offloaded in September, with naira transactions to begin on October 1, 2024. If a price discount from Dangote Refinery is negotiated, the NNPCL assured that it would pass it on entirely to the public.
This follows a disagreement between the Dangote Group and NNPCL, with Dangote disputing NNPC’s earlier claims that it was selling PMS at ₦898, but failing to release its own price list.