The Nigerian National Petroleum Corporation Limited (NNPCL) has officially begun lifting Premium Motor Spirit (PMS), commonly known as petrol, from the Dangote Refinery in Lekki, Lagos, as of today, Sunday, September 15, 2024.
This development has generated widespread anticipation of reduced petrol prices among Nigerians.
WesternLifeNewsNG understands that at least 300 trucks are stationed at the refinery, poised to transport the fuel to various filling stations across the country.
Industry sources have revealed that the Dangote Refinery is supplying petrol to the NNPC at N766 per litre. This favorable pricing is a result of a unique agreement between NNPC and Dangote, where crude oil is supplied to the refinery in naira, thereby lowering costs.
Although the NNPC is purchasing fuel at N766 per litre, the final retail price at the pump will be influenced by additional costs, including transportation, levies, and marketers’ margins.
