NNPC ANNOUNCES PETROL PRICES FROM DANGOTE REFINERY ACROSS NIGERIA
1. Announcement by NNPC:
The Nigerian National Petroleum Company (NNPC) Ltd released the retail prices of Dangote petrol for different states across Nigeria.
The announcement was made via a social media post on Monday, September 16, 2024.
The pricing is based on the rates set by the Dangote Refinery.
2. Price Variations by Region:
The prices vary by location, with residents in the northern part of Nigeria paying more, while those in Lagos will pay less.
If there are any disputes regarding the pricing, NNPC assured Nigerians that any discounts from Dangote Refinery would be passed directly to the public.
3. NNPC Statement:
In accordance with the Petroleum Industry Act (PIA), petrol prices are negotiated between parties and not set by the government.
The NNPC is currently paying Dangote Refinery in USD for the September 2024 PMS offtake. Transactions in Naira will begin from October 1, 2024.
4. Estimated Petrol Prices:
Lagos State: N950.22/litre
Oyo State: N960.22/litre
Rivers State: N980.22/litre
Imo State: N980.22/litre
FCT (Abuja): N992.22/litre
Kaduna, Kano, Sokoto: N999.22/litre
Borno State: N1,019.22/litre
Prices in each region are expected to be the same for nearby states, except Lagos and Abuja, which have unique rates.
5. PMS Loading from Dangote Refinery:
NNPC began loading PMS (Premium Motor Spirit) from the Dangote Refinery on Sunday, September 15, 2024, after delays regarding pricing and business details.
By Saturday, September 14, 300 trucks were positioned at the refinery’s loading gantry, ready for loading.
6. NNPC’s Exclusive Off-Taker Role:
NNPC is the exclusive off-taker of refined petrol from the Dangote Refinery.
Wale Edun, Minister of Finance, confirmed that NNPC would distribute petrol, while diesel would be available for purchase by any interested party.
7. Naira Transactions for Refined Products:
The government’s initiative, supported by the Federal Executive Council (FEC), allows crude oil sales to local refineries in Naira and the corresponding purchase of refined products in Naira.
This move is intended to ease pressure on the Naira, reduce transaction costs, and enhance the availability of petroleum products across Nigeria.
1. Announcement by NNPC:
The Nigerian National Petroleum Company (NNPC) Ltd released the retail prices of Dangote petrol for different states across Nigeria.
The announcement was made via a social media post on Monday, September 16, 2024.
The pricing is based on the rates set by the Dangote Refinery.
2. Price Variations by Region:
The prices vary by location, with residents in the northern part of Nigeria paying more, while those in Lagos will pay less.
If there are any disputes regarding the pricing, NNPC assured Nigerians that any discounts from Dangote Refinery would be passed directly to the public.
3. NNPC Statement:
In accordance with the Petroleum Industry Act (PIA), petrol prices are negotiated between parties and not set by the government.
The NNPC is currently paying Dangote Refinery in USD for the September 2024 PMS offtake. Transactions in Naira will begin from October 1, 2024.
4. Estimated Petrol Prices:
Lagos State: N950.22/litre
Oyo State: N960.22/litre
Rivers State: N980.22/litre
Imo State: N980.22/litre
FCT (Abuja): N992.22/litre
Kaduna, Kano, Sokoto: N999.22/litre
Borno State: N1,019.22/litre
Prices in each region are expected to be the same for nearby states, except Lagos and Abuja, which have unique rates.
5. PMS Loading from Dangote Refinery:
NNPC began loading PMS (Premium Motor Spirit) from the Dangote Refinery on Sunday, September 15, 2024, after delays regarding pricing and business details.
By Saturday, September 14, 300 trucks were positioned at the refinery’s loading gantry, ready for loading.
6. NNPC’s Exclusive Off-Taker Role:
NNPC is the exclusive off-taker of refined petrol from the Dangote Refinery.
Wale Edun, Minister of Finance, confirmed that NNPC would distribute petrol, while diesel would be available for purchase by any interested party.
7. Naira Transactions for Refined Products:
The government’s initiative, supported by the Federal Executive Council (FEC), allows crude oil sales to local refineries in Naira and the corresponding purchase of refined products in Naira.
This move is intended to ease pressure on the Naira, reduce transaction costs, and enhance the availability of petroleum products across Nigeria.