Dangote Petrol Pricing Revealed: Lagos to Pay N950 per Liter
The Nigerian National Petroleum Company (NNPC) has unveiled the new pricing for petrol obtained from the Dangote Refinery, setting a subsidized rate of N950 per liter in Lagos. This announcement, made by Olufemi Soneye, NNPC’s Chief Corporate Communications Officer, highlights a significant price variation across the country.
According to the statement shared on X, the price of petrol will be N1,019 per liter in Borno State, reflecting the higher transportation and logistical costs in that region. In Abuja, Sokoto, Kano, and similar areas, the price will be N999.22 per liter. In contrast, the South-West regions, including Oyo and Rivers, will see a price of N960 per liter.
The lowest price of N950 per liter will be available in Lagos and its surrounding areas. This pricing adjustment comes as part of the NNPC’s new arrangement with the Dangote Refinery, which is set to take effect with the product’s payment being made in US dollars until October 1, 2024. The NNPC clarified that the prices are negotiated directly and not set by the government, in line with the Petroleum Industry Act.
The Dangote Group had previously disputed claims of selling petrol at N898 per liter, but did not provide a detailed price list, leaving some uncertainty around the final figures.
Reactions from Nigerians:
- @nigerian_economist: “Finally, some relief for Lagosians with petrol priced at N950/liter. Let’s hope the other regions follow suit.”
- @fuelwatch_ng: “Why such a huge disparity in prices across the country? N950 in Lagos vs. N1,019 in Borno is a significant difference.”
- @city_transport_ng: “With these new prices, I’m curious to see how transportation costs will be affected in Lagos. Hopefully, it brings some balance.”
- @petrolupdate: “The NNPC’s decision to pay in USD for September’s petrol is interesting. Let’s see how it impacts the final retail prices.”
- @economic_analyst: “The ongoing price differences and disputes between NNPC and Dangote are troubling. Transparency in pricing is crucial for public trust.”
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