By Abiola Olawale
The Nigerian National Petroleum Company Limited (NNPCL) has announced the pump price of the Premium Motor Spirit (PMS), also known as fuel lifted from the Dangote Refinery owned by Nigerian business mogul and billionaire Alhaji Aliko Dangote.
According to a statement issued by the NNPC spokesperson, Olufemi Soneye, fuel prices will go as high as N1,019/litre in places like Borno State and N999.22 in Abuja, Sokoto, Kano, and others.
Soneye explained that in Oyo, Rivers and other areas in the South, it will be N960 per litre.
The lowest price, according to an infographic released by the NNPC, is N950 in Lagos and its environs.
The statement reads in part: “The NNPC Ltd has released estimated prices of Premium Motor Spirit, also known as petrol (obtained from the Dangote Refinery) in its retail stations across the country.
“The NNPC Ltd also wishes to state that, in line with the provisions of the Petroleum Industry Act, PMS prices are not set by the government, but negotiated directly between parties at an arm’s length.”
Soneye also explained that the product it loaded on Sunday was paid for in dollars, assuring that the prices might change when NNPCL starts performing business transactions with the Dangote Refinery in naira.
“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 1, 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 per cent to the general public,” the statement added.
It would be recalled that the NNPCL began lifting fuel from the Dangote refinery on Sunday.
According to Soneye a total of 16.8 million litres of petrol have been lifted from the refinery.
