The Nigeria National Petroleum Company Limited (NNPCL) has said that petrol prices will go up in all states.
This is because NNPCL bought petrol at a higher price from Dangote Refinery on Sunday.
NNPCL also mentioned that Dangote Refinery sold the petrol in US Dollars, not naira, against the federal government’s directive.
However, Dangote Refinery will sell its petrol in naira starting in October.
A breakdown of the chart from NNPCL showed Dangote Refinery sold petrol to NNPCL at ₦898.78 per litre.
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.
