The Nigerian National Petroleum Company (NNPC) has announced the subsidized pump prices for petrol obtained from the Dangote Refinery, with prices set to range between N950 and N1,019 per liter, depending on the region. This was disclosed in a statement by Olufemi Soneye, the chief corporate communications officer, on Monday.
The prices are expected to be highest in Borno State, reaching N1,019 per liter, while the lowest price of N950 will apply in Lagos and its environs. Other areas, such as Abuja, Kano, and Sokoto, will see prices around N999 per liter, while in states like Oyo and Rivers, petrol will be sold at N960 per liter.
Soneye clarified that the pricing is based on negotiations and not set by the government, in line with the Petroleum Industry Act (PIA). He also confirmed that NNPC is currently paying for the product in US dollars, with naira transactions to commence on October 1, 2024.
This announcement follows a dispute between NNPC and Dangote Group, where Dangote had denied selling petrol at N898 per liter, as previously reported. However, the Dangote Refinery has yet to release its own pricing list.
