The Nigerian National Petroleum Company Limited, 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.
This was as it stated that in line with the provisions of the Petroleum Industry Act (PIA), PMS prices were not set by government, “but negotiated directly between parties on an arms length.”
In a statement issued by its spokesman, Mr. Olufemi Soneye, NNPC Ltd. confirmed that it was paying Dangote refinery in USD for September 2024 PMS offtake, as Naira transactions would only commence on October 1st, 2024.
The NNPC Ltd. assured that if the quoted pricing was disputed, it would be grateful for any discount from the Dangote Refinery, which would be passed on 100% to the general public.
In an infographic made available by NNPC, the estimated pump prices of PMS (obtained from the Dangote Refinery) across NNPC Retail Stations in the country, based on September 2024 pricing, the price of the product may cost as high as N1,019/litre in Borno State, and N999.22 in Kano, Abuja and Sokoto among others.
He added that in Rivers, Oyo and other states in the South of the country, the product would be sold at N960 per litre.
