The Nigerian National Petroleum Company Limited (NNPCL) has released estimated prices for Premium Motor Spirit (PMS), commonly known as petrol, to be sourced from the Dangote Refinery in September 2024.
The pricing estimates, announced on Monday by Chief Corporate Communications Officer Olufemi Soneye, forecast what Nigerians can expect to pay at NNPCL retail stations across different regions.
According to the statement, the estimated price of PMS in Lagos is expected to be around N950.22 per litre, while consumers in Borno State may pay as much as N1,019.22 per litre. Other states, including Sokoto, Kano, Kaduna, and the Federal Capital Territory (FCT), are projected to see prices around N999 per litre.
NNPCL said that, in line with the provisions of the Petroleum Industry Act (PIA), PMS prices are not regulated by the government but result from direct negotiations between parties. This means that prices may vary depending on location and other market factors.
Notably, NNPCL will pay Dangote Refinery in US dollars for the September 2024 PMS offtake, with Naira-denominated transactions set to commence on 1 October 2024. The company reassured Nigerians that in the event of any pricing disputes, NNPCL would pass on any discounts from Dangote Refinery directly to the public.
The statement partly reads, “The NNPC Ltd also wishes to state that, in line with the provisions of the Petroleum Industry Act (PIA), PMS prices are not set by Government but negotiated directly between parties on an arm’s length.
“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 NNPC Ltd assures that if the quoted pricing is disputed, it will be grateful for any discount from the Dangote Refinery, which will be passed on 100% to the general public.”
This is absolute wickedness on the part of the government. We have never bought fuel for even # 400 naira before, why are we now buying for one thousand naira? President Tinubu the masses are suffering. What have we done to deserve this maltreatment from you? Why have you chosen to punish us this way? Whatever you are doing remember that God is greater than you. If God could humble the Hermans, the Pharos, the Goliaths, the Nebukkanezers, the Ehaabs, if you don’t repent from this wickedness, he will humble you.
You are telling the poor masses that imported fuel is cheaper than the locally produce fuel, you can fool the people sometimes but you can not fool all the people.
Why is nnplc selling PMS to Nigerian at at international price, is Nigeria at the same level of economic development with USA,Britain etc,is Nigeria a developed country as compared to the rest,indirectly, what nnpcl is doing is stifling economic growth and development to the continuous dependent on them for primary goods and growth,a third world economy to our own detriment, is like taking a primary 4 child to compete with an undergraduate, they had use cheap energy and raw material to build their economy and now we are buying energy at the same rate with them,how the will we build our own economy, what an erroneous competition,fuel at #350 will help drive,grow and build our economy, till when we can produce aeroplane like them,and be self sufficient in good production like them,not when we are going Cap in hand in begging in almost everything.
This is unbearable…I’m regim government president bola tinubu ahmed…..buying fuel in high cost meanwhile God bless naija with a lot of resources so I see no reason why buying fuel at that rate…..now looking at dangote Refinary selling fuel for NNPC at high price …I think the NNPC causes the problem on ground,I don’t blame them
Sometimes I wonder whether I am dreaming but fortunately this is reality oga at the top you have forgotten you made a lot of promises but this fuel own tire me ooo when you leave office you will now start saying I did this I did that nothing is working ooo under this your regime remember they were people before you nothing last forever may God help us all.
I personally wish it should be at a higher cost than this so that we the Nigerian will have this oneness to fight for our right, if the pains doesn’t touch all or 70% of the citizens we won’t be wise and stand and fight for our right, let keep begging the government we voted in
God will pay every man according to their work.
What an offshoot of wickedness… What do u expect from an old man with a old man with a medieval quack brain. In the history of Nigeria,this has never been told that a domestic product will hike to such price climax.. Check America a man at tinubu age can never rule.. a president that has no panache to the harsh inflammation of PMS price is not worth it.. I wish I had the chance to abduct any of the so called elites children,and show them what it means to be subjected to penury… God will purnish them…
So why even inform us?
This NNPC are our new problem & we are going to deal with them going forward. I can see they are bent at making life very difficult for the common man. If you are buying with dollar in September & we are going to get it this expensive, what is the assurance that if NAIRA becomes the medium of exchange with Dangote from October 1, that the price will become reasonable & affordable?
Is it now clear that sometimes or most of the events, we are responsible for our own issues in this country Nigeria.
First of all, why are we shy to state the price of PMS? Only thieves act in that manner, been scared to state the cost of PMS shows that they want to mention an extravagant price, and for crying out loud, why are the negotiating this price in USD? Arrant nonsense…can the USA cost commodities in foreign currencies?
And above all, are they trying to tell us that importing this PMS is cheaper than our refineries producing it?
It’s been a hassle I must confess.
In conclusion, I have a hunch that this people still want to continue the normal anthem ” dollar don rise” that’s why they are costing the price of PMS in usd instead of naira.
Who will come to our aid? because clearly this people who are in position of deciding commodity prices don’t even read all this complain let alone putting things into consideration.
This is so heartbreaking to read. The masses are complaining about the fuel increase but to no avail.
If you think you are fooling the masses, you are not but fooling yourself and your family, God is greater than you, we masses are waiting for the judgement of God.
If we like let’s complain from now till thy kingdom come, nothing will change. We can’t continue to beg this people, they’re callous. How many people are holding over 200m people to ransom? They’re not upto 50k, yet we keep begging and complaining to them. Until we leave ethnicity & religion and unite to fight this people nothing will happen. We wan go heaven but we no wan die, who do us this thing self?
Bola Tinubu came to suffocate Nigerians and he effectively started it on the very day of his inauguration. He has by this wickedness to fellow Nigerians made himself a one term president. I see Tinubu ending in International Criminal Court (ICC) by the time he will force himself on Nigerians to get second term. There will be blood bath as Nigerians are poised to resist him. The killings that he will orchestrate will surely make him a guest of the ICC. Tinubu and his cohorts have done Nigerians much. God Almighty will reward according to their works.
Nigeria used naira why pay in dollar please my people let us use naira to buy and sell fuel . May, God bless Nigeria