The Nigerian National Petroleum Company (NNPC) Limited has released an updated breakdown of the estimated price of petrol purchased from the Dangote Refinery.
On Monday morning, the NNPC
provided a chart detailing the refined petrol it acquired from the refinery on
Sunday.
Payments for the September 2024
petrol supply, according to NNPC, are being made to Dangote Refinery in US
dollars, with Naira transactions scheduled to begin on October 1, 2024.
“NNPC Ltd. has released the
estimated prices of Premium Motor Spirit (PMS), also known as petrol, sourced
from the Dangote Refinery, for distribution at its retail outlets nationwide.
“These prices are based on
negotiated terms between NNPC Ltd. and Dangote Refinery, taking into account
current international gasoline prices and the prevailing foreign exchange rate,
in accordance with the Petroleum Industry Act (PIA) 2021.
“NNPC Ltd. confirms that it is
making payments in USD for the September 2024 PMS supply, with Naira payments
starting on October 1, 2024.
“We assure Nigerians that any
discounts received from Dangote Refinery will be fully passed on to the
public,” the statement from NNPC reads.
While the data of the estimated
price to be sold around the country remains the same, the analysis of the
transaction it had with Dangote Refinery was modified.
In the initial statement
released on Monday, a Nigerian Midstream and Downstream Petroleum Regulatory
Authority fee of N8.99 was listed, while the revised version showed a fee of
N4.495.
The first breakdown included an
inspection fee of N0.97, a margin fee of N26.48, and a distribution fee of N15.
However, in the updated
release, the inspection and margin fees were removed, and the distribution fee
was adjusted to N42.45.
In addition, the second
statement introduced a Midstream and Gas Infrastructure Fund fee of N4.495.
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