The Nigerian National Petroleum Company Limited has released a new breakdown of the estimated price of petrol purchased from Dangote Refinery.
AMBusiness earlier reported that in a statement on Monday, NNPC provided a detailed chart showing the refined petrol product purhased from the refinery on Sunday.
The company noted that it is currently paying for the September 2024 petrol offtake in U.S. dollars, with transactions in Nigerian Naira set to begin on October 1, 2024.
The statement reads, “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.
“The estimated prices are based on negotiated terms between NNPC Ltd. 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) 2021.
“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’s updated breakdown of the petrol price from Dangote Refinery shows alterations in the transaction details.
While the overall estimated price to be sold nationwide remains unchanged, specific fees were adjusted between statements.
The initial press release listed a Nigerian Midstream and Downstream Petroleum Regulatory Authority fee of ₦8.99, which was later revised to ₦4.495.
Additionally, the first statement included an inspection fee of ₦0.97, a margin fee of ₦26.48, and a distribution fee of ₦15.
In the updated statement, an additional fee of ₦4.495 for the Midstream and Gas Infrastructure Fund was included.
