The Nigeria National Petroleum Company Limited (NNPCL) has announced that petrol prices will increase across the states.
The increase in price, Naturenex reported, followed a statement from NNPCL stating that it bought petrol at a higher rate from Dangote Refinery on Sunday.
NNPCL’s statement also disclosed that contrary to the directive of the federal, Dangote Refinery sold its refined product on Sunday in US Dollars and not naira.
The statement, however, disclosed that Dangote Refinery will sell its October product in naira.
A breakdown of the chart from NNPCL showed Dangote Refinery sold petrol to NNPCL at ₦898.78 per liter. NNPCL paid Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) fee of ₦8.99, inspection fee of ₦0.97, a distribution cost in Lagos of ₦15, margin ₦26.48.
NNPCL’s statement added that the estimated pump price in Lagos will be ₦950.22, Sokoto State ₦999.22; Kano State ₦999.22, Borno State ₦1,019.22, Kaduna ₦999.22, FCT ₦992.22, Oyo State ₦960.22, Lagos State ₦950.22, Rivers State ₦980.00, Imo State ₦980.22.
An analysis of the chart showed that except from Lagos State, other states of the federation will be paying higher because of distribution costs.
The distance from Dangote Refinery and NNPCL‘s depot in Lagos State to other states of the country majorly would determine the price differences.
The report also showed that the six geo-political zones would be paying differently. The North East states would be paying the highest per liter from ₦1,019.22, followed by North West states from ₦999.22, followed by North Central states from ₦992.22, followed by South East states from ₦980.22, South South states from ₦980.22 and South West states paying the least from ₦960.22, except Lagos State paying from ₦950.22.
