NNPC Announces Dangote Petrol Prices: N1,019/Litre In Borno, N950/Litre In Lagos

NNPC Announces Dangote Petrol Prices: N1,019/Litre In Borno, N950/Litre In Lagos

The Nigerian National Petroleum Company Limited (NNPC) has announced that petrol from the Dangote Refinery will be priced above N1,000 per litre in the northern regions of Nigeria.

In a statement released on Monday, NNPC spokesperson Olufemi Soneye detailed the pricing structure in a document titled “NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing.”

According to Soneye, in Borno State, the price may reach as high as N1,019 per litre, while Abuja, Sokoto, Kano, and similar regions will see a price of N999.22 per litre. In contrast, areas in the South, such as Oyo and Rivers, will have a price of N960 per litre. The lowest price listed is N950 per litre in Lagos and its surroundings.

Soneye emphasized that, in accordance with the Petroleum Industry Act, petrol prices are not regulated by the government but are instead negotiated between parties at arm’s length.

He also noted that the product purchased on Sunday was billed in US dollars, with naira transactions set to begin on October 1, 2024. The NNPC has assured that any disputes over the quoted pricing will be addressed, with any discounts from Dangote Refinery passed directly to consumers.

The statement also mentioned a previous disagreement with Dangote Group over pricing, as Dangote had disputed claims that it was selling petrol at N898 per litre, though it had not provided its own price list.