The NNPC Limited has announced a new set of petrol pump prices across the country, following the loading of petrol from the Dangote Refinery. The updated prices reflect an increase in cost for consumers, with petrol now selling at N950 per litre in Lagos, up from N855, while the price in Abuja has risen to N992.22 per litre, up from N897. In Borno, the price now stands at N1,019.22 per litre.
The corporation, in its official statement, confirmed that it sourced the product at N898 per litre from Dangote Refinery and dismissed any differing figures, challenging anyone with conflicting data to make it public.
The NNPC also clarified the pricing structure under the Petroleum Industry Act (PIA), noting that the prices of Premium Motor Spirit (PMS) are no longer set by the government but are negotiated directly between market participants.
In addition, the corporation disclosed that it is paying Dangote Refinery in US dollars for the petrol loaded in September 2024, with Naira transactions set to begin on October 1, 2024.
“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 NNPC also attached a list of estimated pump prices across its retail stations in the country based on the September 2024 pricing.
