Lagos to pay N950/litre as NNPC announces new petrol prices - Thepodiummedia

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Post published:September 16, 2024
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The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced a significant adjustment in pump prices across all states after completing the loading of Premium Motor Spirit, popularly known as petrol, from the Dangote refinery.

NNPC stated it paid N898 per litre for the 16.8 million litres of petrol purchased from the Dangote refinery on Sunday, September 15.

NNPC releases petrol pricing

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In a statement signed by Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd, it was revealed that the cheapest estimated price will be N920 per litre, which will be sold in Lagos.

NNPC explained that the new prices for September are based on figures obtained from the Dangote refinery and not set by the federal government. The statement reads: “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.

“The NNPC Ltd also wishes to state 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 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.

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Here is a breakdown of the 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

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