TOUGHER Times Ahead As DANGOTE Debunks NNPCL Pricing Agreement, New Petrol Pump Prices Emerge (READ FULL DETAILS)

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THE NNPCL has again come out with another new Pump Prices of PMS otherwise known as petrol higher than what it released few weeks ago, this signifies another tougher times for Nigerians.

This is coming as Dangote Group denied any agreement of N898 per litre with the NNPCL but failed to tell Nigerians the price that was agreed.

Dangote in a statement on Sunday, September 15, 2024 said,

“Our attention has been drawn to a statement attributed to NNPCL Spokesperson, Mr. Olufemi Soneye, that we sell our PMS at N898 per litre to the NNPCL.

This statement is both misleading and mischievous, deliberately aimed at undermining the milestone achievement recorded today, September 15, 2024, towards addressing energy insufficiency and insecurity, which has bedeviled the economy in the past 50 years.

We urge Nigerians to disregard this malicious statement and await a formal announcement on the pricing, by the Technical Sub-Committee on Naira-based crude sales to local refineries, appointed by His Excellency, President Bola Ahmed Tinubu GCFR, which will commence on October 1, 2024, bearing in mind that our current stock of crude was procured in dollars.”

But on Monday, September 16, 2024 NNPCL came out with new prices of petrol pump price based on US Dollar rates purchased by Dangote. Head or tail, Nigerians are at the receiving ends suffering the consequences of dishonesty between the players of Nigerian economy.

In a Press Release signed by the Chief Corporate Communications Officer on NNPCL, Olufemi Soneye available to SOJ WORLDWIDE, he said the estimated prices will end September 2024 while new prices will emerge effective October 1, 2024 in Naira denominated prices.

The new prices released ranges between N950.22 as the lowest and N1,019.22 as the highest depending on the distance of the states from Lagos.

“NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery, Based on September 2024 Pricing.

The NNPC Ltd has released estimated prices of Premium Motor Spirit (PMS), also known as Petrol (obtained from the Dangote Refinery) in its retail stations across the country.

The NNPC Ltd also wishes to state 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 NNPC Ltd can confirm that it is paying Dangote Refinery in USD for September 2024 PMS offtake, as Naira transactions will only commence on October 1st, 2024.

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 100% to the general public.

Attached to this statement are the estimated pump prices of PMS (obtained from the Dangote Refinery) across NNPC Retail Stations in the country, based on September 2024 pricing.”