Lagos N950/L, Borno N1019/L – NNPC Announces Increase In Pump Price Of Petrol At Its Retail Stations

The Nigeria National Petroleum Corporation NNPC has announced an increase in petrol pump price.

In a statement released in the wee hours of today September 16, the corporation stated that the pump price of petrol lifted from the Dangote refinery and sold at its retail stations is put at N950.22 per litre, N1,019 per Litre in Borno, N992.22 per Litre in FCT.

In the statement released by its Chief Corporate Communication Officer, Olufemi Soneye, the corporation stated that in line with the provisions of the Petroleum Industry Act (PIA), PMS prices are not set by the Government, but negotiated directly between parties on an arm’s length. The statement added that it is paying Dangote Refinery in USD for September 2024 PMS offtake as Naira transactions will only commence on October 1st, 2024.

The NNPC Ltd added 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. NNPC began lifting petrol from the Dangote refinery on Sunday, September 16.