The Nigerian National Petroleum Company Limited (NNPCL) has announced new petrol prices across all 36 states and the Federal Capital Territory (FCT). According to a statement from NNPC spokesperson Olufemi Soneye, petrol prices will vary depending on the location.
In the northern states, including Borno, the price could reach as high as N1,019 per litre. In Abuja, Sokoto, and Kano, the price is set at N999.22 per litre. In contrast, southern states like Oyo and Rivers will see prices of N960 per litre. Lagos will have the lowest price at N950 per litre.
The NNPC clarified that these prices are based on the cost of petrol obtained from the Dangote Refinery and that the transactions are conducted in U.S. dollars. Naira payments for September 2024 petrol will only begin on October 1, 2024.
The company also stated that if there are any disputes regarding the prices, any discounts from the Dangote Refinery will be passed on to consumers. The new pricing reflects ongoing changes in the petroleum industry, as governed by the Petroleum Industry Act, which stipulates that prices are negotiated independently rather than set by the government.
