The Nigeria National Petroleum Company Limited (NNPCL) has released another version of the breakdown of the estimated price of petrol bought from the Dangote refinery.
Chronicle NG earlier reported that in a statement on Monday morning, the NNPC gave a chart breakdown of the refined petrol product it bought from the refinery on Sunday, September 15.
The NNPC stated that it is paying the Dangote refinery in United States dollars for the September 2024 petrol offtake, adding that Naira transactions will only commence on October 1st, 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 that 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.”
While the expected price to be sold across the country remains unchanged, the analysis of the transaction with Dangote Refinery has been updated.
On Monday, the Nigerian Midstream and Downstream Petroleum Regulatory Authority fee was ₦8.99 in the first press announcement but ₦4.495 in the second.
The first statement included inspection fees of ₦0.97, margin fees of ₦26.48, and distribution fees of₦15.
The second statement on Monday included no inspection or margin costs, but the distribution fee was increased to ₦42.45.
The second statement included an additional Midstream and Gas Infrastructure Fund fee of 4.495.
