The Nigerian National Petroleum Company Limited (NNPC) has released estimated pump prices of petrol from the Dangote Refinery, following a denial by the refinery’s management that it sold the product to NNPC at N898 per litre.
Dangote had earlier described the claim as “misleading and mischievous” and urged Nigerians to await a formal announcement on pricing by the Technical Sub-Committee on Naira-based crude sales to local refineries.
Despite the controversy, NNPC released the estimated prices, citing September 2024 pricing. The company emphasized that petrol prices are negotiated directly between parties and not set by the government, in line with the Petroleum Industry Act.
NNPC also revealed it is paying Dangote Refinery in US dollars for September 2024 petrol offtake, with Naira transactions set to commence on October 1st, 2024.
The development comes as Nigeria struggles to meet its fuel demands, with the Dangote Refinery expected to boost domestic production and reduce reliance on foreign imports.
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