The Nigerian National Petroleum Company Limited (NNPC Ltd) has requested a discount from Dangote Refinery on its petrol pricing......See Full Story>>.....See Full Story>>
In a statement titled “Estimated Pump Price Based on Dangote Refinery Sept. 2024 PMS Pricing,” NNPC provided a breakdown of Dangote’s retail petrol pricing across states and promised to pass any discount received on to Nigerians, thereby reducing pump prices.
NNPCL also confirmed that it is paying Dangote Refinery in U.S. dollars for September’s PMS offtake.
It stated that naira-denominated petrol transactions will not commence until October 1, 2024, marking a transition period under the Petroleum Industry Act (PIA).
NNPC releases Dangote petrol pricing
NNPCL also noted that the Dangote pricing mechanism for PMS is based on Platts 10 parts per million (ppm) FOB (Free on Board) AR Barge plus a $46 per metric ton premium.
The organisation stated:
“PMS prices are not set by Government, but negotiated directly between parties on an arm’s length basis – PIA Section 206 (1).
“NNPC is paying Dangote Refinery in USD for September 2024 PMS offtake, as Naira transactions will only commence on 1st October 2024.
“If the quoted pricing (Platts 10ppm FOB AR Barge + $46 premium) is disputed, NNPC will be grateful for any discount from Dangote Refinery, which will be passed on 100% to the public.”
Breakdown of petrol pricing
- Borno State – N1,019.22 per litre
- Sokoto State – N999.22 per litre
- Kano State – N999.22 per litre
- Kaduna State – N999.22 per litre
- Federal Capital Territory (FCT) – N992.22 per litre
- Rivers State – N980.22 per litre
- Oyo State – N960.22 per litre
- Lagos State – N950.22 per litre
NNPC unveils six new locations for CNG
In related news, Legit reported that NNPC Ltd has called on Nigerians to consider switching to Compressed Natural Gas (CNG).
The NNPC has ramped up efforts to expand the availability of CNG at its filling stations nationwide amid rising petrol prices.
The company said CNG stations are now available in Abuja at Gaduwa, Wuse, Gudu, Dei Dei, Ushafa, and Gwagwalada.