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We Have Documents – NNPCL Insists It Bought Dangote Refinery Petrol at N898 Per Litre

The Nigerian National Petroleum Company Limited has insisted it bought petrol from Dangote Refinery at N897 per liter.
NNPCL spokesperson, Olufemi Soneye stated this on Sunday.
This comes after the Dangote Group in a statement by its spokesperson, Anthony Chiejina, on Sunday disagreed with NNPCL over its statement that Dangote Refinery Petrol was to them at N898 per litre.
However, when DAILY POST contacted NNPCL on his reaction to Dangote Refinery’s statement, he said, he stood by his revelation.
“We stand by our earlier stand that Dangote Refinery Petrol is sold to us at N898 per litre.
 
“We have documents to back this point”, he told DAILY POST.
The confusion comes after Dangote Refinery started loading its petrol on Sunday.
NNPCL had confirmed that 70 trucks belonging to the state-owned firm loaded Dangote Petrol on Sunday.
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NNPC Announces New Price of Petrol Across All States In Nigeria

The Nigeria National Petroleum Company Limited (NNPCL) has revealed the new price of petrol across all states of the federation.
Recall that on Sunday, the NNPCL had confirmed buying petrol from Dangote Refinery.

In a statement released on Monday, titled “NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing,” NNPC spokesperson, Olufemi Soneye, outlined the pricing structure.
According to the statement, the price of petrol could reach ₦1,019 per litre in Borno State, while it will be priced at ₦999.22 per litre in Abuja, Sokoto, Kano, and other northern states.
In contrast, consumers in the South will face somewhat lower prices, with petrol priced at ₦960 per litre in Oyo, Rivers, and other southern regions.
The lowest price of ₦950 per litre will be available in Lagos and its surrounding areas.
This pricing disparity highlights the logistical and distribution challenges faced by the NNPCL, affecting fuel costs across different regions.
He stated, “The NNPC Ltd has released estimated prices of Premium Motor Spirit, also known as petrol (obtained from the Dangote Refinery) in its retail stations across the country.
 
“The NNPC Ltd also wishes to state that, in line with the provisions of the Petroleum Industry Act, PMS prices are not set by the government, but negotiated directly between parties at an arm’s length.
 
“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 1, 2024.
 
“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 per cent to the general public.”
He stated that the estimated pump prices of PMS were obtained from the Dangote Refinery and will be across NNPC retail stations in the country, based on September 2024 pricing.
Recall that the Dangote Group had disagreed with the NNPC on Sunday that it was selling PMS at ₦898, but it failed to release its price list.
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We Have Supplied 30m Barrels Of Crude To Dangote Refinery – NNPCL

The Nigerian National Petroleum Company Limited (NNPCL) has announced that it has provided 30 million barrels of crude to the Dangote refinery to date.

The Executive Vice President of NNPCL Downstream, Adedapo Segun, who disclosed this on Thursday on Arise Television, said plans were underway to supply an additional 17 million barrels to the refinery soon.

He said the company would supply 6.3 million barrels of crude in September and 11.3 million barrels in October.

“We have supplied about 30 million barrels to Dangote so far—6.3 million this month, and we will supply 11.3 million in October,” Segun stated.

He stated that the development was part of the Federal Government’s decision to sell crude to local refineries, adding that the 6.3 million barrels would be delivered in seven cargoes.

“The pump price today is not reflective of the market. NNPCL is the sole importer of Premium Motor Spirit (PMS) in the country, which is abnormal. We should be moving towards a situation where the free market determines prices,” he added.

He explained that the NNPCL’s role as the sole importer of petrol was not deliberate, but rather a response to market conditions.

“Let me put it into proper perspective. NNPC is not a regulator. We didn’t choose to be the sole importer. We don’t determine who participates in the market. We stepped in when others reduced their participation. It is not about us wanting to be monopolists,” Segun stated.

According to him, achieving a stable fuel supply and price requires ideal market conditions, including a more liquid foreign exchange market.

“Market conditions need to be ideal, and there needs to be FX liquidity,” he added, suggesting that broader economic reforms may be needed to address the fuel pricing issue,” he said.