Petroleum marketers like 11plc, Total Energies, and AA Rano have started lifting petrol from Dangote Refinery through NNPC Trading Limited at N765.99 per litre.
The arrangement, facilitated by NNPC’s role as the sole off-taker, comes after marketers completed payments on the NNPC portal.
Marketers are not purchasing directly from Dangote Refinery because the petrol is still sold at a subsidised rate.
NNPC confirmed that the market price of petrol is higher than what marketers are paying, explaining why NNPC remains the primary buyer for now.
NNPC stated it bought petrol from Dangote Refinery at N898 per litre, while additional costs such as distribution and regulatory fees drive the price higher at the pump.
In some regions like Abuja and Maiduguri, the final pump price could exceed N950 per litre.
(Business Day)