BY SAM OTUONYE
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 to clarify grey issues that have raised concerns in the media space recently.
According to a statement, Monday by the company’s Chief Corporate Communications Officer, Olufemi Sonoye, the naira-to-crude sale of petrol deal with Dangote refinery would take effect in October, hence, their purchase of products from Dangote refinery in September is in dollars, adding that the transactions are based on market forces and not government negotiated.
The statement read in part: “The NNPC Ltd also wishes to state that, in line with the provisions of the Petroleum Industry Act (PIA), PMS prices are not set by Government, but negotiated directly between parties on an arms 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 1st, 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% to the general public.
“Attached to this statement are the estimated pump prices of PMS (obtained from the Dangote Refinery) across NNPC Retail Stations the country, based on September 2024 pricing”.
It would be recalled that Dangote refinery had yesterday, Sunday, released a press statement stating that it did not sell petrol to NNPC at N898 per litre which NNPC as claimed, noting that the federal government would fix the price.