BREAKING: NNPC petrol price hit ₦1,019 per litre in Borno, ₦950 in Lagos

The Nigerian National Petroleum Company Limited (NNPCL) has announced that petrol supplied by the Dangote Refinery will be sold at different prices across the country, with northern regions facing the highest rates.

In a Monday statement titled “NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing,” NNPC spokesperson Olufemi Soneye outlined the price variations.

According to the statement, petrol prices may reach ₦1,019 per litre in Borno State, while Abuja, Sokoto, Kano, and other northern states will see prices around ₦999.22 per litre.

In the southern regions, prices will be slightly lower, with consumers in Oyo, Rivers, and surrounding areas paying ₦960 per litre. The lowest price, ₦950 per litre, will be available in Lagos and its environs.

This price variation reflects the logistical and distribution challenges NNPCL faces, impacting fuel costs across different regions.

Soneye explained, “NNPC Ltd has released the estimated prices of Premium Motor Spirit (PMS), commonly known as petrol, sourced from Dangote Refinery for retail across the country.”

He added, “In line with the Petroleum Industry Act, PMS prices are not set by the government but are determined through negotiations between the parties involved. NNPC Ltd can confirm it is paying Dangote Refinery in USD for the September 2024 PMS offtake, with naira transactions set to begin on October 1, 2024. Any discounts provided by Dangote Refinery will be passed on entirely to the public.”

The announcement follows a dispute between Dangote Group and NNPC over claims that the refinery was selling PMS at ₦898 per litre. The Dangote Group did not release its own pricing list.