NNPC Announces PMS Prices from Dangote Refinery at N898 Per Litre

NNPC Announces PMS Prices from Dangote Refinery at N898 Per Litre

The Nigerian National Petroleum Company Limited (NNPC) has released the estimated pump prices for Premium Motor Spirit (PMS) sourced from Dangote Refinery, setting the base price at N898 per litre for its retail stations nationwide.

NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, made the announcement following Dangote Refinery’s denial of earlier price disclosures. The refinery began its first PMS loading on Sunday at its Ibeju-Lekki facility, Lagos. However, Dangote’s Group Chief Branding and Communications Officer, Anthony Chiejina, called the NNPC’s price announcement “misleading” and emphasized that official pricing will be confirmed by the Naira-based crude sales committee on October 1.

NNPC stated that the current transaction is conducted in U.S. dollars, with the official Naira pricing set to begin next month. The company noted that it is open to price adjustments if Dangote Refinery offers any discounts, which would be passed on to consumers.

The estimated pump price in Lagos is N950.22 per litre, with higher prices expected in other states due to transportation costs. NNPC’s breakdown shows a base price of N898.78 per litre, with additional costs including regulatory fees and distribution margins.