Petrol price from Dangote Refinery fixed by NNPCL
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.
Based on the new pump price, petrol will sell for N950.22 in NNPCL retail stations in Lagos, meaning it will cost more in other non-NNPCL outlets and all filling stations outside Lagos.
Note that petrol sells at cheapest price in Lagos area.
The NNPC Ltd also explained that, in line with the provisions of the Petroleum Industry Act (PIA), PMS prices are not set by Government, but negotiated directly between parties on an arms length.
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.
The NNPC Ltd assured Nigerians 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.
