The Nigerian National Petroleum Company Limited (NNPCL) has revealed that petrol sourced from the Dangote Refinery will be sold at over N1,000 per litre in the northern regions of Nigeria.
This was disclosed by NNPC spokesperson, Olufemi Soneye, in a statement on Monday titled, ‘NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing’.
According to the NNPCL, petrol prices in states like Borno could reach as high as N1,019 per litre, while residents of Abuja, Sokoto, Kano, and other northern states might pay up to N999.22 per litre. In the southern regions, the price will be slightly lower, with Oyo and Rivers States seeing rates of N960 per litre. The lowest price of N950 per litre is expected in Lagos and its surrounding areas.
The company stressed that these prices are estimates based on the Petroleum Industry Act, which dictates that fuel prices are determined by market forces and negotiations, not by the government.
Soneye added that the petrol lifted from the Dangote Refinery on Sunday was paid for in U.S. dollars, though naira transactions will begin on October 1, 2024.
The NNPC also hinted at the possibility of price adjustments if the Dangote Refinery offers a discount, with the benefit passed directly to consumers.
This announcement follows a disagreement between Dangote Group and the NNPC over a claim that the refinery was selling petrol at N898 per litre, a figure that Dangote Group has not officially confirmed.
