The NNPCL is buying Dangote refinery petrol at N766 per litre, according to a report published in The Punch.
Multiple sources from the Federal Ministry of Petroleum Resources, NNPC, and major energy marketers confirmed that the deal to supply crude to the Dangote refinery in naira was a key factor that led to the PMS price.
“What we are going to see based on the deal between NNPC and Dangote is similar to the DSDP (Direct Sale of crude oil and Direct Purchase of petroleum products) transactions that used to exist between NNPC and foreign refineries in the past.
“And this has impacted positively on the price of petrol that Dangote is selling to NNPC because the cost is around N766/liter. But I can’t tell how much NNPC is going to sell to marketers now,” a major marketer, stated.
Another senior aide to President Bola Tinubu, who spoke on condition of anonymity, confirmed that the petrol would be sold at 766/litre.
Pump price may reduce
Reacting to the Dangote fuel price, a senior IPMAN official said if marketers could get the product at N766, they would need to add the cost of transportation, levies, and other margins.
He said, “Give and take, we can sell at N790 in Lagos. In the far north, it may be N820 per litre because of the distance.”
Gillis-Harry, however, said his group was not aware of the price of fuel from the Dangote refinery.
“Well, it will be acceptable because now we are paying NNPC N870 for a litre, so if we see it at N766, it is cheaper and we will prefer to buy that.
“I cannot determine how much we will sell to Nigerians; we will work out the retail price. It is not one individual or one organization’s prerogative to put a price, we will work it out and we will argue out our point.
“We are ready to support Dangote, but they are not talking to us. We are the people they need; I have over 6,000 retail outlets under my management, but Dangote is not talking to us”, he added.