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NNPCL Announces New Petrol Pump Prices Nationwide

The Nigerian National Petroleum Company Limited (NNPCL) has provided a breakdown of the estimated retail prices of Premium Motor Spirit (PMS) from Dangote Refinery for September 2024.

In a statement on Monday, NNPCL spokesperson Olufemi Soneye confirmed that the company is paying Dangote Refinery in US Dollars for the September PMS supply, with the refinery’s petrol gantry priced at N898.78 per liter.

The estimated retail price in Lagos, including logistics, is set at N950.22 per liter. In the Federal Capital Territory, Sokoto, and Kano, the price will be N999.22 per liter, while states such as Rivers, Bayelsa, Akwa Ibom, and Imo will see prices at N980 per liter. Oyo State’s price is estimated at N960.22.

Borno State is expected to have the highest pump price at N1,019.22 per liter.

“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 at 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 percent 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”, he stated.

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