The Nigerian National Petroleum Company (NNPC) Limited has issued an updated breakdown of the estimated price of petrol purchased from the Dangote Refinery.
Earlier, on Monday morning, the NNPC provided a chart detailing the refined petrol it acquired from the refinery on Sunday, September 15.
According to NNPC, payments for the September 2024 petrol supply are being made to Dangote Refinery in US dollars, with Naira-based transactions scheduled to begin on October 1, 2024.
The statement from NNPC reads: “NNPC Ltd. has released the estimated prices of Premium Motor Spirit (PMS), also known as petrol, sourced from the Dangote Refinery, for distribution at its retail outlets nationwide.
“These prices are based on negotiated terms between NNPC Ltd. and Dangote Refinery, taking into account current international gasoline prices and the prevailing foreign exchange rate, in accordance with the Petroleum Industry Act (PIA) 2021.
“NNPC Ltd. confirms that it is making payments in USD for the September 2024 PMS supply, with Naira payments starting on October 1, 2024.
“We assure Nigerians that any discounts received from Dangote Refinery will be fully passed on to the public.”
Although the estimated pricing details across the country remained unchanged, the NNPC modified some aspects of its transaction analysis with Dangote Refinery.
The initial statement released on Monday listed a Nigerian Midstream and Downstream Petroleum Regulatory Authority fee of N8.99, while the revised version showed a fee of N4.495.
The earlier breakdown included an inspection fee of N0.97, a margin fee of N26.48, and a distribution fee of N15. However, in the second release, the inspection and margin fees were removed, and the distribution fee was adjusted to N42.45.
Additionally, the updated statement introduced a Midstream and Gas Infrastructure Fund fee of N4.495.