The National Petroleum Corporation (NNPC) has announced that the price of petrol at filling stations in Lagos and other states will be N950 per litre.
The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced a substantial increase in pump prices in all states following the completion of the importation of Premium Motor Spirit, also known as petrol, from the Dangote refinery.
NNPC has announced the price of fuels.
In a statement signed by Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd, the most affordable estimated price will be N920 per litre. The product will be sold in Lagos.
NNPC clarified that the federal government did not establish the new prices for September; rather, they are determined by data obtained from the Dangote refinery.
The declaration is as follows:
They have disclosed the estimated prices of Premium Motor Spirit (PMS), also known as petrol, sourced from the Dangote Refinery. These prices apply to retail stations across the nation.
NNPC Ltd also clarifies that, according to the Petroleum Industry Act (PIA), the government does not set PMS prices. Instead, parties negotiate these prices directly on an arms-length basis.
NNPC Ltd can confirm that it is paying Dangote Refinery in USD for the September 2024 PMS offtake, as Naira transactions will not commence until October 1, 2024.
The NNPC Ltd assures that if anyone disputes the quoted pricing, it will appreciate any discount from the Dangote Refinery and pass it entirely to the general public.
The following is a detailed explanation of the pricing structure:
N1,019.22 per litre in Borno State
Sokoto State – N999.22 per litre
Kano State – N999.22 per litre
Kaduna State – N999.22 per litre
Federal Capital Territory (FCT) — N992.22 per litre
N980.22 per litre in Rivers State
Oyo State – N960.22 per litre
Lagos State – N950.22 per litre
CREDIT: Allneeds, Legit
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