The Nigerian National Petroleum Company (NNPC) Ltd has announced the estimated pump prices of Premium Motor Spirit (PMS), commonly known as petrol, sourced from the Dangote Refinery. These prices will apply across NNPC retail stations nationwide.
In a statement, Chief Corporate Communications Officer, NNPC Ltd, Abuja Olufemi Soneye emphasized that, in line with the Petroleum Industry Act (PIA), the government does not set PMS prices. Instead, pricing is negotiated independently between parties at arm’s length.
NNPC Ltd confirmed that payments for PMS from Dangote Refinery in September 2024 are being made in U.S. dollars. Naira-based transactions will commence from October 1, 2024.
The company also assured the public that any price discounts offered by the Dangote Refinery will be fully passed on to consumers. The attached release contains the estimated pump prices for PMS, based on September 2024 pricing, at NNPC retail outlets across the country.
