The Nigerian National Petroleum Company Limited, NNPC has crashed the price of Dangote petrol for marketers in the country.
According to reports, marketers have started lifting the Dangote petrol from the NNPC at N765 per litre.
This price is significantly lower than the previously announced N898 per litre, which NNPCL stated it paid to lift petrol from Dangote Refinery
DAILY GIST recalls that NNPC had stated that petrol marketers cannot purchase the product directly from the refinery due to costs.
It was gathered that 11Plc, TotalEnergies, AA Rano, and other independent marketers have started lifting Dangote petrol via the NNPC Trading Limited to retail outlets nationwide at N765.99 per litre.
The managing director of 11Plc, Tunji Oyebanji, confirmed the development to Reporters.
Oyebanji disclosed that they are the first marketers to complete payment on the NNPC portal as they have no direct arrangement with the Dangote Refinery.
The report said that NNPC Retail, 11Plc, TotalEnergies, and AA Rano are among the first marketers that have picked the refinery’s product.
Adedapo Segun, executive vice president downstream at NNPC, said that marketers cannot purchase directly from the refinery as the product is still being subsidised
Segun said the market value of Petrol is higher than the N766, 765 or N799 that the NNPC is selling.
NNPC and Dangote Refinery had stirred controversy over the pricing of the PMS.
The NNPC disclosed that it purchased petrol at the Dangote Refinery for N898 per litre, stating that market forces now determine domestic pump prices.
Reacting to the NNPC, the Dangote Group said that the NNPC assertion is misleading and mischievous and aimed at undermining the refinery’s achievement in addressing Nigeria’s energy needs.
Countering the refinery, NNPC insisted that it bought the product at N898 per litre from the facility and requested a discount from the plant, promising to pass the cost 100% to the consumer.
