NNPC Ltd. has issued expected prices for Premium Motor Spirit (PMS), generally known as petrol (obtained from the Dangote Refinery), at its retail outlets across the country. NNPCL obtained fuel from Dangote Refinery for N898/L and set the Lagos pump price at N950.22/L for September. Other prices include N960.22 in Oyo, N992.22 in Abuja, Kaduna, and N1,019.22 in Borno. Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd, stated that the estimated prices are based on negotiated terms between NNPC and Dangote Refinery, taking into account current international gasoline prices and foreign exchange rates in accordance with the PIA. It reads in sections.

‘The predicted costs are based on negotiated agreements between NNPC and Dangote Refinery, which take into account current international gasoline prices and the prevailing foreign exchange rate in accordance with the PIA. ‘The NNPC Ltd can confirm that it would pay Dangote Refinery in USD for the September 2024 PMS offtake, as Naira transactions will not begin until October 1st, 2024. ‘We guarantee Nigerians that any discount from the Dangote Refinery will be passed on entirely to the general population.