NNPC Limited has issued a revised pricing template for petrol purchased from Dangote Refinery, with a significant adjustment to the NMDPRA (Nigerian Midstream and Downstream Petroleum Regulatory Authority) fee, now reduced from N8.99 to N4.495 per litre. The remaining portion of the fee is being charged to the Midstream and Gas Infrastructure Fund.
The new template has removed the inspection fee of N0.95, the distribution margin of N26, and the distribution cost (Lagos) of N15. Instead, a combined distribution and logistics cost of N42.45 has been introduced. Despite these changes, the total cost for petrol in Lagos remains N898.22 per litre.
NNPC Limited Chief Corporate Communications Officer, Mr. Olufemi Soneye, explained that these prices are based on agreements between NNPC and Dangote Refinery, considering current international gasoline prices and exchange rates as per the Petroleum Industry Act (PIA) 2021. He confirmed that payments to Dangote Refinery for September 2024 will be made in USD, with Naira transactions starting on October 1, 2024. NNPC assured that any discounts from the Dangote Refinery will be fully passed on to the public.
Vanguard reported that new pump prices have been set, with petrol now costing N950.22 per litre in Lagos, N992.22 in Abuja, and N1,019.22 in Borno. NNPC has stated that the product was loaded at N898 per litre from Dangote and has invited anyone with conflicting figures to disclose them.