September 16, (THEWILL) – The Nigerian National Petroleum Company Limited, NNPCL early Monday morning announced the retail price of petrol nationwide as follows; Lagos – N950.22 per litre, Oyo – N960.22, FCT N992.22, Kaduna/Kano/Sokoto – N999.22, Imo/Rivers – N980.22 and Borno – N1,019.22.
Spokesman of the company, Olufemi Soneye released the new pricing in a statement.
THEWILL had earlier reported that the state-owned oil company, which is the sole buyer of fuel from the Dangote Refinery in Lekki, Lagos, started lifting products from the facility Sunday.
“NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery, Based on September 2024 Pricing.
“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 arm’s 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,” the statement said.
