NNPC Sets Petrol Prices from Dangote Refinery: N1,019 per Litre in Borno, N960 in Rivers, N950 in Lagos

The Nigerian National Petroleum Company Limited (NNPC) has announced that petrol lifted from the Dangote Refinery will be sold at varying prices across the country, with rates exceeding N1,000 per litre in some northern regions.

According to a statement issued by NNPC spokesperson Olufemi Soneye on Monday, the petrol price in Borno State will reach N1,019 per litre, while residents in Abuja, Kano, and Sokoto will pay approximately N999.22 per litre. In southern regions like Oyo and Rivers, the price will be set at N960 per litre. The lowest price of N950 per litre will be available in Lagos and its surrounding areas.

The NNPC statement, titled ‘NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing’, emphasized that the prices are based on current market dynamics and are not regulated by the government. “In line with the Petroleum Industry Act, PMS prices are determined through direct negotiations between the parties involved, without government intervention,” Soneye noted.

The NNPC also confirmed that payments for petrol lifted in September were made in US dollars, with naira transactions set to begin from October 1, 2024. The company further assured that any potential price discounts from the Dangote Refinery would be fully passed on to consumers.

This announcement follows a recent disagreement between NNPC and the Dangote Group regarding the refinery’s petrol pricing. While NNPC had initially indicated that Dangote was selling petrol at N898 per litre, Dangote Refinery did not release its own price list.

NNPC’s statement clarifies that the latest pricing reflects the conditions for September 2024 and applies across its retail stations nationwide.