Following the loading of petrol from Dangote Refinery, NNPC Limited has released new pump price across the country with additional cost for consumers.
A statement by the corporation said petrol in Lagos will now sell for N950 per litre from N855, Abuja is now N992.22 per litre from N897 while price in Borno will be N1,019.22 per litre.
NNPC insisted that it loaded the product at N898 per litre from Dangote and challenged anyone with contrary figures to make it public.
“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 Government, but negotiated directly between parties on an arms 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 the country, based on September 2024 pricing”.
Dangote Refinery has hit out at the Nigerian National Petroleum Company Limited (NNPCL) for claiming they bought fuel from them at N898 per litre.
Our attention has been drawn to a statement attributed to NNPCL spokesperson, Mr Olufemi Soneye, that we sell our PMS at N898 per litre to the NNPCL.
This statement is both misleading and mischievous, deliberately aimed at undermining the milestone achievement recorded today, September 15, 2024, towards addressing energy insufficiency and insecurity, which has bedeviled the economy in the past 50 years.
We urge Nigerians to disregard this malicious statement and await a formal announcement on the pricing, by the Technical Sub-Committee on Naira-based crude sales to local refineries, appointed by His Excellency, President Bola Ahmed Tinubu GCFR, which will commence on October 1, 2024, bearing in mind that our current stock of crude was procured in dollars.
It should also be noted that we sold the products to NNPCL in dollars with a lot of savings against what they are currently importing. With this action, there will be petrol in every local government area of the country regardless of their remote nature.
We assure Nigerians of availability of quality petroleum products and putting an end to the endemic fuel scarcity in the country.