NNPC Releases Official Pump Price of Dangote Fuel Across Nigeria
The Nigerian National Petroleum Company (NNPC) has officially released the pump prices for Dangote fuel across various states in Nigeria. This move comes after the Dangote Refinery commenced sales of fuel to the NNPC, marking a significant milestone in Nigeria’s energy sector.
Pump Prices Across States
The NNPC has announced the following pump prices for Dangote fuel in different states:
- Lagos: N950 per liter
- Abuja, Kano, Sokoto: N999.22 per liter
- Borno: N1,019 per liter
- Oyo, Rivers, and other areas in the South: N960 per liter
Subvention and Pricing Mechanism
The NNPC has clarified that the prices are subsidized and may vary depending on the location. The pricing mechanism is based on a negotiated price between the NNPC and Dangote Refinery, without government intervention. This approach ensures a fair market price for consumers while allowing the refinery to operate profitably.
Impact on Consumers
The release of official pump prices for Dangote fuel brings transparency and clarity to consumers. With the prices now publicly available, consumers can make informed decisions about their fuel purchases. Additionally, the subsidized prices will provide relief to consumers who have been facing high fuel costs in recent times.
Reactions from Stakeholders
“The release of pump prices for Dangote fuel is a significant step towards transparency in the energy sector,” said Mele Kyari, Group Managing Director of the NNPC. “We are committed to ensuring that consumers get fair value for their money.”
“The Dangote Refinery is proud to be contributing to Nigeria’s energy security,” said Aliko Dangote, Chairman of the Dangote Group. “We will continue to work with the NNPC to ensure a stable fuel supply across the country.”
Next Steps
The NNPC has assured consumers that it will continue to monitor the market and adjust prices as necessary to ensure a stable fuel supply. With the Dangote Refinery’s production capacity expected to increase, consumers can expect a more stable and affordable fuel supply in the coming months.
