The Nigerian National Petroleum Company (NNPC) Limited has released new pump prices for petrol across the country, effective immediately.
The new prices are:
– Lagos: N950 per litre (up from N855)
– Abuja: N992.22 per litre (up from N897)
– Borno: N1,019.22 per litre
NNPC stated that the prices were negotiated directly between parties, as per the Petroleum Industry Act (PIA), and are not set by the government.
The corporation also clarified that it is paying Dangote Refinery in USD for September 2024 PMS offtake, with Naira transactions to commence on October 1st, 2024.
NNPC assured that if the quoted pricing is disputed, it will pass on any discount from Dangote Refinery to the general public.
The new prices are estimated based on September 2024 pricing and are subject to change.
This development may impact consumers and businesses across Nigeria, and it is essential to stay informed about any further updates or changes to petrol prices.
Vanguard.
