Details Emerge On Dangote Refinery Petrol Price

As the Dangote Refinery is set to sell petrol to the Nigerian National Petroleum Company (NNPC), many have been speculating about the price at which the petrol will be sold.

Multiple sources are saying that Dangote Refinery is set to sell petrol at a price of N766 per litre to the Nigerian National Petroleum Company Limited, NNPCL which has been positioned as the major off-taker of the product.

The price of the petrol was reportedly influenced by a deal allowing NNPC to supply crude to the Dangote Refinery in naira, reminiscent of the Direct Sale of Crude Oil and Direct Purchase of Petroleum Products (DSDP) transactions that existed between NNPC and foreign refineries in the past.

A senior marketer explained, “This arrangement has positively impacted the cost of petrol from Dangote, with the price now around N766 per litre. However, it’s unclear how much NNPC will sell to marketers.”

Additionally, a senior aide to President Bola Tinubu, who spoke anonymously, confirmed the N766/litre price tag for the fuel from Dangote.

Reacting to the development, a senior official of the Independent Petroleum Marketers Association of Nigeria (IPMAN) suggested that after factoring in transportation, levies, and other costs, the pump price could rise to about N790 per litre in Lagos. In northern regions, the price could be as high as N820 per litre due to increased transportation costs.

Meanwhile, GWG.ng reports that over 300 NNPC trucks are currently stationed at the Dangote Refinery, ready to begin loading as the refinery gears up for full operation today.

All eyes are on Dangote refinery and the NNPC to see how this new development helps Nigerians and reduced the current hardship, as the petrol hits the market at a price considerably lower than the imported products.
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