The Nigerian National Petroleum Company Limited (NNPCL) has released the projected costs of petrol that it would procure from the Dangote Refinery in September.
The pricing estimates made public project the prices that Nigerians in various geographical regions should anticipate paying at NNPCL retail stations.
The minimum price is for Lagos, where the Dangote Refinery is located. NNPCL projects it will sell petrol for N950.22 a liter, based on the estimated PMS pump price document it released.
Other states, like Sokoto, Kano, and Kaduna, are projected to see prices around N999.22 per liter, Imo and River State would be N980.22 per liter, Oyo State N960.22 a liter while Borno State may pay as much as N1,019.22 per liter.
This indicates that the selling price at NNPCL's retail stations in other states will be higher with transport expenses accounted for.
NNPCL emphasized in a statement released on Monday via X (Twitter) by Olufemi Soneye, its Chief Corporate Communications Officer, that petrol prices are not set by the government but negotiated directly between trading parties.
According to the statement, “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.”
Soneye disclosed that NNPCL will pay Dangote Refinery in US dollars for the petrol offtake in September with naira-denominated transactions starting on 1 October 2024.
