The Nigerian National Petroleum Company (NNPC) Ltd has published estimated prices for Premium Motor Spirit (PMS), or petrol, from the Dangote Refinery at its retail stations nationwide, based on September 2024 pricing.

Key points:

1. PMS prices are determined by negotiations between parties, not set by the government, in accordance with the Petroleum Industry Act (PIA).

2. NNPC Ltd pays Dangote Refinery in USD for September 2024 PMS, with Naira transactions starting October 1st, 2024.

3. Estimated pump prices are subject to change.

4. NNPC Ltd welcomes any discounts from Dangote Refinery, promising to pass 100% of the savings to the public.

The move aims to promote transparency and competitiveness in the downstream petroleum sector.