The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced a reversed pricing template per litre for petrol bought from Dangote Refinery with the NMDPRA (Nigerian Midstream and Downstream Petroleum Regulatory Authority) fee reduced by half from N8.99 to N4.495.
The other half has been charged to the Midstream and Gas Infrastructure Fund.
The inspection fee of N0.95 was removed from the new template while the distribution margin of N26 was also taken out. The distribution cost (Lagos) of N15 was also removed.
In their place, the new template has a combined distribution and logistics cost of N42.45. The total cost for Lagos remains N898.22 per litre.
NNPC Limited Chief Corporate Communications Officer, Mr Olufemi Soneye said: “NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery, Based on September 2024 Supply
“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 estimated prices are based on negotiated terms between NNPC Ltd. and Dangote Refinery which recognise the current international gasoline prices and the prevailing foreign exchange rate in line with the provisions of the Petroleum Industry Act (PIA) 2021.
“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.
“We reassure Nigerians that any discount from the Dangote Refinery will be passed on 100% to the general public.
Vanguard had earlier in the day reported that following the loading of petrol from Dangote Refinery, NNPC Limited has released new pump prices across the country with additional cost for consumers.
A statement by the corporation said petrol in Lagos will now sell for N950.22 per litre from N855, Abuja is now N992.22 per litre from N897 while price in Borno will be N1,019.22 per litre.
NNPC insisted that it loaded the product at N898 per litre from Dangote and challenged anyone with contrary figures to make it public.
