The Nigerian National Petroleum Company (NNPC) Limited says
it purchased premium motor spirit (PMS), also known as petrol, from the Dangote
Petroleum Refinery in dollars.
In a social media post on Monday, the NNPC said naira
transactions would commence on October 1.
“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 statement reads.
NNPC also released the estimated pump price of petrol based
on prices set by the Dangote refinery.
On September 14, Wale Edun, the minister of finance, had
said from October 1, the refinery would supply PMS and diesel to the domestic
market in naira.
“From October 1, NNPC Ltd. will commence the supply of about
385,000 bpd of crude oil to the Dangote refinery, to be paid for in naira,” the
minister had said.
“In return, the Dangote refinery will supply PMS and diesel
of equivalent value to the domestic market, to be paid in naira.”
On September 15, the NNPC commenced petrol lifting at the
refinery’s gantry after an extended period of price negotiations.
The development followed the deployment of a fleet of NNPC’s
trucks to the refinery on September 14.
At the close of loading on Sunday, the NNPC had said it
bought petrol from Dangote refinery at N898 per litre.
However, the Dangote refinery countered the claim,
describing it as “both misleading and mischievous”.
The company also said it sold the product to NNPC in dollars
“with a lot of savings against what they are currently importing”.
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