The Nigerian National Petroleum Company Limited (NNPC) has released a revised breakdown of the estimated price of petrol purchased from the Dangote refinery. This comes after an initial statement earlier on Monday, September 16, 2024, which provided a different analysis of the transaction.
According to the revised statement, the NNPC will pay Dangote Refinery in US dollars for the September 2024 petrol offtake, with Naira transactions commencing on October 1, 2024. The estimated prices are based on negotiated terms between NNPC and Dangote Refinery, considering international gasoline prices and foreign exchange rates.
Key changes in the revised breakdown include:
- Nigerian Midstream and Downstream Petroleum Regulatory Authority fee reduced from ₦8.99 to ₦4.495
- Inspection fee and margin fee removed
- Distribution fee increased from ₦15 to ₦42.45
- Addition of Midstream and Gas Infrastructure Fund fee of ₦4.495
The NNPC reassures Nigerians that any discount from the Dangote Refinery will be passed on 100% to the public.
The development follows Dangote’s supply of 16 million liters of petrol to the NNPC. However, the two parties differ on the pricing, with Dangote denying selling fuel to NNPC at ₦898 per liter.
The revised breakdown aims to provide clarity on the transaction. Nonetheless, concerns surrounding the pricing and monopoly allegations against Dangote Refinery persist.
