The Nigerian National Petroleum Company (NNPC) Limited in the early hours of Monday, 16 September released the estimated pump price of Premium Motor Spirit (PMS) also known as petrol obtained from Dangote Refinery.
In a statement issued by the company’s chief corporate communications Officer, Olufemi Soneye, the NNPC Ltd the estimated pump price serves for all its retail stations across the country.
Reaffirming 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 statement also read, “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% to the general public. Attached to this statement are the estimated pump prices of PMS (obtained from the Dangote Refinery) across NNPC Retail Stations in the country, based on September 2024 pricing”.
