Fuel Sells At N950 per litre in Lagos State, N999 at the FCT
According to the Nigerian National Petroleum Company Limited, gasoline obtained from the Dangote Refinery will be sold in Lagos for N950 per litre and in Abuja, Sokoto, Kano, and other locations for up to N999.22. In Borno, however, a litre may cost as much as N1,019/litre.
In Oyo, Rivers, and other southern regions, it will retail for N960 per litre. As a result, gas prices won’t remain the same nationwide.
The costs associated with logistics will determine the prices.
In a statement headed “NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing,” NNPC spokesperson Olufemi Soneye made this revelation on Monday.
“Premium Motor Spirit, also known as gasoline (obtained from the Dangote Refinery), is expected to cost the following amounts at NNPC Ltd.’s retail stations nationwide.
According to Soneye, “The NNPC Ltd also wishes to state that PMS prices are not set by the government but are instead negotiated directly between parties at an arm’s length in accordance with the provisions of the Petroleum Industry Act.”
As naira transactions won’t start until October 1, 2024, The NNPC Ltd. can affirm that it is paying Dangote Refinery in USD for September 2024 PMS offtake.
“The NNPC Ltd guarantees that in the event that the advertised pricing is contested, it will be appreciative of any reduction from the Dangote Refinery, which will be distributed 100% to the general public.
The NNPC disclosed that on Sunday, it paid N898 per liter for gasoline at Dangote Refinery.
However, Dangote Refinery later refuted this. Dangote Industries said in a statement that the allegation was deceptive and playful, with the intention of discrediting the noteworthy accomplishment of the Dangote Refinery in resolving Nigeria’s energy crisis.
In contrast to the current import costs, the corporation clarified that the products were supplied to NNPC in dollars at a significant savings.
The refinery additionally guaranteed Nigerians that high-quality petroleum products would be available and that the nation’s ongoing gasoline shortage would come to an end.
References and Citation
businessday.ng – Petrol to sell at N950/litre in Lagos, N999 in Abuja, Kano
dailypost.ng – Fuel price: NNPC, Dangote Refinery ‘biblical Cain’ – Shehu Sani
premiumtimesng.com – Hope dashed as petrol from Dangote Refinery costs more than imported fuel
businesspost.ng – NNPC to Sell Petrol at N950 per Litre in Lagos, N1,019 in Borno
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