•••N1,019.22 IN BORNO
•••NNPC Paying Dollars for September Fuel off take
The Nigerian National Petroleum Company (NNPC) Limited has said that petrol will be sold at N950.23 in Lagos, and N999.22 at the Federal Capital Territory, Abuja.
The NNPC also said that the product would sell at N1,019.22 in Borno State, the highest in the country.
The NNPC said said a post on X on Monday, that the estimated pump prices were based on prices set by the Dangote refinery for its petroleum products.
The pump price maps displayed by the NNPC indicated that Borno State would pay the highest petrol pump price of N1,019.22.
Also, the post made by Mr Olufemi Soneye, Chief Corporate Communications Officer of NNPCL
indicated that pump prices in the states of the North would be higher than their Southern counterparts.
The NNPC also said that it is paying Dollars to Dangote Refinery for the September off take as transactions on Naira would commence from October 1, 2024
“The NNPC Ltd. has released estimated prices of Premium Motor Spirit (PMS), also known as Petrol (obtained from the Dangote Refinery) in its retail stations across the country.
“The estimated prices are based on negotiated terms between NNPC
Ltd. and Dangote Refinery which recognise the current international gasoline prices and the prevailing foreign exchange rate in line with the provisions of the Petroleum Industry Act (PIA) 2021.
“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 1st, 2024.
“We reassure Nigerians that any discount from the Dangote Refinery will be passed on 100% to the general public.”
The firm note that “The estimated prices are based on negotiated terms between NNPC and Dangote Refinery which recognise the current international gasoline prices and the prevailing foreign exchange rate in line with the provisions of the PIA.
“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 Ist, 2024.
“We reassure Nigerians that any discount from the Dangote Refinery will be passed on 100% to the general public.”
