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The Nigerian National Petroleum Company Limited (NNPC Ltd) has requested a discount from Dangote Refinery on its petrol pricing. ...READ THE FULL STORY FROM SOURCE ...READ THE FULL STORY FROM SOURCE
In a statement titled “Estimated Pump Price Based on Dangote Refineries 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.
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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.
NNPC stated: “PMS prices are not set by the 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.”
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
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Oyo State – N960.22 per litre
Lagos State – N950.22 per litre▶For. More. READ. THE FULL. STORY.▶▶
