NNPC Limited Announces Petrol Prices from Dangote Refinery for September 2024, Nigerians Pay More per Litre
The Nigerian National Petroleum Company Limited (NNPC Limited) has released estimated prices for Premium Motor Spirit (PMS), commonly known as petrol, to be sourced from the Dangote Refinery in September 2024.
According to a statement issued by Olufemi Soneye, Chief Corporate Communications Officer, the estimated prices vary across regions due to differences in distribution costs. In line with the Petroleum Industry Act (PIA), PMS prices are determined by direct negotiations between parties, rather than government regulation.
The estimated prices for September 2024 are:
- Lagos: N950.22 per litre
- Borno: N1,019.22 per litre
- Sokoto, Kano, Kaduna, and FCT: around N999 per litre
- Rivers and Imo: N980.22 per litre
NNPC Limited will pay Dangote Refinery in US dollars for the September 2024 PMS offtake, with Naira-denominated transactions commencing on October 1, 2024.
The company reassured Nigerians that any discounts from Dangote Refinery would be passed on directly to the public in the event of pricing disputes.
“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% to the general public,” the statement read.
The varying prices reflect regional distribution costs, with northern states generally facing higher prices.
NNPCL’s announcement provides transparency on petrol pricing ahead of the Dangote Refinery’s supply.
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