The Nigerian National Petroleum Company Limited (NNPCL) has said Premium Motor Spirit commonly known as petrol, from the Dangote Refinery will enter the market from the 15th of September, 2024.
The company revealed this in a statement signed by its Chief Corporate Communications Officer, Olufemi Soneye on Thursday in Abuja,
He said prices of products would be determined by market forces as the development followed the commencement of petrol refining by the Dangote Refinery earlier in the week.
Quoting NNPCL’s Executive Vice President of Downstream, NNPC Ltd, Adedapo Segun, Soneye said the downstream sector had been fully deregulated, and the company would no longer set prices.
His argument puts to rest rumours that NNPCL would continue to fix prices despite announcement that the downstream sector had been deregulated.