The Nigerian National Petroleum Company Limited (NNPC Ltd), on Monday morning insisted that it bought Premium Motor Spirit (PMS), also known as Petro from Dangote refinery at N898 per litre.
In a statement issued on Monday morning, Chief Corporate Communications Officer of NNPCL, Olufemi Soneye reiterated the group’s position following a denial by Dangote Refinery.
Soneye said: “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”.
