The Nigerian National Petroleum Corporation Limited (NNPCL) has commenced lifting Premium Motor Spirit (PMS), commonly known as petrol, from the Dangote Refinery in Lekki, Lagos, starting today, Sunday, September 15, 2024.
POLITICS NIGERIA reports that at least 300 trucks are stationed at the refinery in readiness to lift the fuel.
This has sparked excitement among Nigerians who anticipate cheaper petrol prices at filling stations.
Industry insiders have confirmed that the Dangote refinery will supply petrol to the NNPC at a price of N766 per litre.
This reduced price is attributed to the deal between NNPC and Dangote, where crude oil is supplied to the refinery in naira.
A major marketer, who spoke on condition of anonymity, explained, “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 really impacted positively on the price of petrol that Dangote is selling to NNPC, because the cost is around N766/litre. But I can’t tell how much NNPC is going to sell to marketers now.”
A senior aide to President Bola Tinubu also confirmed the N766 per litre price.
However, marketers have indicated that the final retail price will depend on additional costs such as transportation, levies, and margins.
Chinedu Okoronkwo, a senior official of the Independent Petroleum Marketers Association of Nigeria (IPMAN), estimated that marketers could sell petrol at N790 per litre in Lagos and up to N820 per litre in distant northern regions.
Gillis-Harry, another IPMAN official, welcomed the reduced price. He said, “We are ready to support Dangote, but they need to engage with us, as we control over 6,000 retail outlets.”
Currently, Nigerians pay N855 per litre at NNPCL retail stations in Lagos, with major marketers selling at N920 to N1,200 per litre.
So,what relief is the refinery going to give us here in Nigeria? This is the case of a dove that left the ground to perch on a stone.The dove is still where it is.Nothing less than 220 naira per litre will ever ease our suffering.
I told some people that the quick increase to the prize by NNPC last month was to stabilize their bargain before fixing the prize for Dangote product.
Even Dangote, when interviewed on the prize he will sell, he said it depends on NNPC.
Now they are calling it “Reduced prize”.
Selfish people
What do you expect from dangote when nnpc is selling crude to him at international rate even in naira with the exchange rate of over #1600
Yola Adamawa state Nigeria Girei Lc GV gorong word
You seem to be under an illusion
Don’t mind them.
Nigeria government solution to problem is always worst than the problem itself.
It’s politics
Is #820 a reduced price? Where is Nigeria really headed.
I don’t know my brother
Up my ass i guess
Wait a minute, I want to ask a question. How has NNPC become a middle man btw Dangote fuel and Nigerian pms consumers? Can’t Dangote supply direct to marketers? Why has NNPC become the distributor to Dangote? Have they become an employee of Dangote. What is really going on here?
We all know bro,even Mr president,knows what is going on in NNPC, while his he not removing him since his been changing and changing minster,May D Lord help us
I think there’s conspiracy somewhere. Who do Nigeria this thing. Even Dangote have joined the very enemies of the common man in Nigeria
If you don’t know it before, know it today that after Nigeria government, the second enemy to Nigerians is dangote
all these hike in fuel price within this period was just to give DANGOTE a good landing price to recover the money he invested in his $20 billion refinery within a very short period ( for instance MTN came to Nigeria and had a total ROI within three months), I always knew that this is what will happen. USA does not produce crude oil but sell a liter for $1-2 and a gallon for $4, we in Nigeria produce the crude oil and refine yet a liter want to be sold to NNPCL for #766, what a wicked clueless government..
If truly Nigeria is practicing democracy then, we should the once to tell Dangote the particular amount he should sell per litre
For now i think nothing has change yet
I suggest government should still go and look in to this price of fuel per litre.
The suffering of the common man continues as their price will not bring down the cost of transportation.
Naija we hail thee
Is this government serious ,why can’t they allow the marketers to buy directly to ease life for a common man , God is watching .
Correct my brother
I told people that we should not rejoice yet. Is it not abnormal that the crude oil is gotten here in Nigeria, refined in Nigeria and sold to Nigerians at that price.
I knew this was their plan.
Dangote and NNPC are playing nigerians .
NNPC have suddenly become wholesale.
When the people begin protesting and agitating for their right, te so call useless govt wl throw soldiers to the street to harrass and humiliate the innocent citizens.
One thing i know for sure, their days are numbered
With this do you think Nigeria will ever get better? Why will Dangote allow NNPC to interfere with his business, was it the NNPC that gave him funds to build the refinery? Why can’t the NNPC focus on renovating the PH, WARRI and KADUNA refineries where they will have control over the prices. As far as I am concerned Dangote had failed Nigerians.
My brother oh you are right
For me this is pure wickedness from the government and even Dangote is involved. As far as am concerned, they did not reduce any price, N855 and N766 is just N89 difference and even NNPC will still add money on the N766 to sell to the marketers. The same way they’re siphoning money through importation is the same way they want to be milking Nigerians here. Chai, 9ja who do us this thing?
For us living at distance place this reduction in price has not affected any positive change in the price of fuel.
Currently they selling at #1,350 per litre, meaning that before it will reach to our state the price might remain same on the price they currently selling to us now.
No difference,nnpc dictate for dangote for selling the product, there is no relief in there, suffering still continue unless they sell below 300/liter
It’s never dangote fault my brother. The only option given to him by the federal government is to sell back to them before He can operate, Will he allow his multi billions dollars investment to crash ?
The Government is the problem
Tinubu came to meet petrol at the price of 500 per litre and Nigerians were hoping that he will be a gud father but we av seen now that he was a very wicked monster who refuses to die before now, however we are not going to blame him only that we are taking it for granted that president tinubu is a very poor man in disguise
You’re making a mistake , Tinubu met petrol at 198 and took it to 490 in June 2023 , August he took it to 550 , October he took it to 580,
January 2024 he took it to 650,
He took it to 720 in April 2024 ,
July he took it to 820 ,
August : 920
We have always known Dangote to be a monopolist he has just succumbed to Tinubu’s threat by making NNPC his sole distributor otherwise he will not get crude anymore
Good
You nailed it,my brother
This NNPCL should bescrapped because no good thing is coming out from them, they don’t even care Nigerians are suffering, there’s God oo one day the oil wells will dry up
Good
The NNPCL and Dangote are now partners in our pains, forgetting that as harmless as a goat May seem, can bite when pushed to the wall
Na wow what is all arrangements by Dangoté and
the government
Nigeria is under spell, both Dangote and NNPC are the enemy of this nation,
Haaa president Tinubu this is not your promise b4 you are elected, the extreme wrath of God is upon you unless you change for good.
You are blocking the divine manifestation of God on Nigeria and Nigerians…. Remember your last breath.
Shalom.
So this is the plan ever since Apc come to power Nigerians have been suffering, it’s GOD almighty that will bring Us out of this wahala.The only way corruption can be eradicated is to enact the law that anyone found guilty of stealing public fund should be executed by firering squad and that’s the only way they can desist from stealing public fund.All we need is a leader that is energized that can monitor all the activities money is released for.
We requested the removal of nnpc director
Our political leaders were using problem to solve problems. This is the reason why we are having bigger problem. How could a father of the house refuse or stop buying food items for his household because thieves are stealing part of the food items. Does that make any sense at all. This our internal colonial masters na waa o.
I believe all those that decide the price of Dangote refined premium motor spirit (petrol) are all capitalist and they are shareholders of the company.
Yes for sure
How you expect petrol supsidy money beneficiary to repair or renovate our moribund national refineries. NNPCL were filled up of economy saboteurs.
U are right this government is only fooling their self, now everyone is facing the music in this there is no APC, pdp, lp, ad, pp, cc, we all are hearing wheen.
It’s s very sad that NNPC has become our problem, how on earth did we get here
That is why the cabals are frustrating dangote,so that he will negotiate with them for the high price
This country is finished, revolution now or we remain slaves in our own country