The Nigerian National Petroleum Company Limited NNPC Ltd., has released estimated prices of Premium Motor Spirit PMS, also known as Petrol for September 2024 pricing obtained from the Dangote Refinery in its retail stations across the country.

According to a statement by the Chief Corporate Communications Officer of the NNPC Ltd, Olufemi Soneye, the Company also stated 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 statement further confirmed that the NNPC Ltd is paying Dangote Refinery in United States Dollars for September 2024 PMS offtake, adding that Naira transactions will commence from October 1, 2024.

The statement reads in part: “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 100per cent 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.”