<\/p>\n
The Nigerian National Petroleum Company Limited, NNPCL on Monday released estimated prices of Premium Motor Spirit (PMS), also known as Petrol, noting that any discount from the Dangote Refinery would be passed on 100% to the general public.<\/p>\n
According to a statement signed by the Chief Corporate Communications Officer of NNPCL, Olufemi Soneye, the estimated petrol prices for states are listed below;<\/p>\n
Sokoto State: N999.22
\nKano State: N999.22
\nKaduna State: N999.22
\nFCT: N992.22
\nBorno State: N1,019.22
\nOyo State: N960.22
\nImo State: N980.22
\nRivers State: N980.22
\nLagos State: N950.22<\/p>\n
It further explained the organization paid Dangote Refinery in USD for September 2024 PMS offtake, adding that Naira transactions would commence on October 1st, 2024.<\/p>\n
NNPC explained that PMS prices are not set by Government, but negotiated directly between parties.<\/p>\n
The statement reads in part, “The firm noted that the sales in Naira would begin in October as the earlier crude oil stock was paid for in dollars rather than Naira. The Dangote refinery had earlier denied selling petrol to the NNPC at N898 per litre stating it is still negotiating prices with the federal government.<\/p>\n
“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.<\/p>\n
“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.<\/p>\n
“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.”<\/p>\n
According to NNPC, the base pricing includes a Platts 10ppm price of $690\/MT plus a $46 premium, resulting in a total of $736\/MT.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Nigerian National Petroleum Company Limited, NNPCL on Monday released estimated prices of Premium Motor Spirit (PMS), also known as Petrol, noting that any discount from the Dangote Refinery would be passed on 100% to the general public. According to a statement signed by the Chief Corporate Communications Officer of NNPCL, Olufemi Soneye, the […]<\/p>\n","protected":false},"author":2,"featured_media":24,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[428,427,343,429,426],"class_list":["post-739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oil-gas","tag-buying-in-local-currency","tag-dangota-refinery","tag-nnpcl","tag-october","tag-pump-price"],"_links":{"self":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/739","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/comments?post=739"}],"version-history":[{"count":1,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/739\/revisions"}],"predecessor-version":[{"id":740,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/739\/revisions\/740"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/media\/24"}],"wp:attachment":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/media?parent=739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/categories?post=739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/tags?post=739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}