NNPC announces new petrol prices from Dangote refinery: N1,019/Litre in far North

NNPC reveals new petrol prices from the Dangote Refinery, with rates up to N1,019 per litre in the far north and N950 in Lagos.

[dropcap]N[/dropcap]NPC Announces New Petrol Prices from Dangote Refinery: The Nigerian National Petroleum Company Limited (NNPC) has announced new petrol prices for fuel sourced from the Dangote Refinery.

According to a statement by NNPC spokesperson Olufemi Soneye, the price of petrol may reach N1,019 per litre in Borno State and N999.22 in cities such as Abuja, Sokoto, and Kano.

Also read: No deal yet for NNPC’s petrol lifting from Dangote refinery

In southern regions like Oyo and Rivers, the price will be N960 per litre. Lagos and its surrounding areas will see the lowest price of N950 per litre.

This pricing adjustment comes as the NNPC updates its retail stations with new rates based on September 2024 figures.

Soneye clarified that, under the Petroleum Industry Act, petrol prices are negotiated between parties rather than set by the government.

He noted that the petrol purchased was paid for in US dollars, with naira transactions beginning on October 1, 2024.

If disputes arise over these prices, NNPC expressed willingness to negotiate discounts with Dangote Refinery, passing any savings directly to consumers.

This announcement follows a dispute between Dangote Group and NNPC over previous pricing claims, with Dangote Group asserting different figures without a detailed price list.

Quadri Olaitan