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Chuks Udo Okonta
The NNPC Limited 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, pegging N950.22 for Lagos, N992.22 Abuja and Borno State N1,019.22.
A statement by Chief Corporate Communications Officer NNPC Limited Olufemi Soneye, said the price for Kano State is N999.22; Kaduna State N999.22; Sokoto State N999.22; Oyo State N960.22 and River State N960.22.
He noted that the NNPC Ltd also wishes to state that, in line with the provisions of the Petroleum Industry Act (PIA), PMS prices are not set by Government, but negotiated directly between parties on an arms length.
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.
The NNPC Ltd assures that if the quoted pricing is disputed, it will be grateful for any discount from the Dangote Refinery, which will be passed on 100 per cent to the general public.
