Nigeria’s National Petroleum Company Limited (NNPCl) has bought petrol from the Dangote Refinery in Lagos for over N898 per litre, causing petrol prices to rise more than those imported from abroad. The refinery’s gross price per ton was quoted at $736, equivalent to $0.55 per litre.
The NNPCL added statutory and regulatory charges to the product’s landing cost, resulting in an estimated pump price of N950.22 per litre in Lagos. Once freighting and other statutory costs are added, the product will cost more at the pumps, with prices ranging from N955 to N897 per litre. The variation in prices is attributed to transportation costs and distribution challenges in different regions.
The NNPCL is the sole off-taker of petrol from the Dangote Refinery and will sell the product to other marketers, with marketers buying from the NNPCL for at least N950 in Lagos.
