The Nigeria National Petroleum Company Limited has made public the description of petrol price bought from the Dangote refinery. The NNPC earlier gave a breakdown of the refined petrol product bought from the refinery on Sunday, September 15. The statement reads, “The estimated prices are based on negotiated terms between NNPC Ltd. and Dangote Refinery which recognize 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 off-take, 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.”
While the data of the estimated price to be sold around the country remains the same, the analysis of the transaction it had with Dangote Refinery was altered.
While the first press statement on Monday had a Nigerian Midstream and Downstream Petroleum Regulatory Authority fee of ₦8.99, the second statement showed ₦4.495.
The first statement had an inspection fee of ₦0.97, a margin fee of ₦26.48 and a distribution fee of ₦15.
In the second statement on Monday, there were no inspection and margin fees, while the distribution fee was changed to ₦42.45.
