September 2024 Supply: NNPC Ltd Releases Estimated Pump Prices of PMS, Assures Public 100% Discount From Dangote Refinery

The NNPC Ltd 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.

Further, the NNPC Ltd explained that the estimated prices are based on negotiated terms between NNPC and Dangote Refinery which recognise the current international gasoline prices and the prevailing foreign exchange rate in line with the provisions of the Petroleum Industry Act (PIA).

A statement by the NNPC Ltd Chief Corporate Communications Officer, Olufemi Soneye stated: “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.

“We reassure Nigerians that any discount from the Dangote Refinery will be passed on 100% to the general public.

“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 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 the country, based on September 2024 pricing. “