NNPC Ltd. Confirms USD Payment For Dangote Refinery’s September PMS Supply

NNPC Ltd. has confirmed that it will pay Dangote Refinery in USD for the September 2024 supply of Premium Motor Spirit (PMS), as Naira transactions will only commence on October 1st, 2024.

BIGPEN NIGERIA (https://bigpenngr.com) reports that the clarification came following allegations and counter allegations about Dangote selling petrol to NNPCL at N898 per liter.

Chief Corporate Communications Officer
NNPC Ltd, Olufemi Soneye who made the clarification in a statement said that the payment arrangement is based on negotiated terms between NNPC Ltd. and Dangote Refinery, which consider current international gasoline prices and the prevailing foreign exchange rate, in accordance with the Petroleum Industry Act (PIA) 2021.

The statement reads; “NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery, Based on September 2024 Supply.

“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 estimated prices are based on negotiated terms between NNPC Ltd. and Dangote Refinery which recognise the current international gasoline prices and the prevailing foreign exchange rate in line with the provisions of the Petroleum Industry Act (PIA) 2021.

“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.

“We reassure Nigerians that any discount from the Dangote Refinery will be passed on 100% to the general public”.