NNPC to Sell Dangote Refinery Petrol Above N1,000 Per Litre in Northern Regions

The Nigerian National Petroleum Company Limited (NNPC) has announced plans to sell petrol from the Dangote Refinery at over N1,000 per litre in northern regions of the country. According to NNPC spokesperson Olufemi Soneye, fuel prices in areas like Borno State could reach as high as N1,019 per litre, while cities like Abuja, Kano, and Sokoto are expected to see prices close to N999.22 per litre.

In contrast, southern states such as Oyo and Rivers will experience slightly lower fuel costs, with prices pegged at around N960 per litre. Lagos and its surrounding areas will have the lowest prices at N950 per litre, as revealed in an NNPC infographic detailing the September 2024 pump prices.

Soneye clarified that the pricing of Premium Motor Spirit (PMS) is determined by market forces, not the government, as outlined by the Petroleum Industry Act. He also noted that NNPC is currently paying for fuel from the Dangote Refinery in US dollars, with naira transactions expected to begin in October 2024.

NNPC further assured that if there are any reductions in the agreed prices, the benefits will be passed directly to consumers. This development follows a disagreement between the Dangote Group and NNPC regarding the pricing of PMS, with Dangote disputing claims of a set price of N898 per litre.