Confusion as NNPC releases new petrol price estimates

The Nigerian National Petroleum Corporation (NNPCL) has released another version of its estimated price of petrol purchased from the Dangote Refinery.

The second version comes just hours after NNPC released the initial version and contains several adjustments.

While the estimated pettol price data remains the same, the analysis of the state-owned oil company’s transactions with the Dangote Refinery has changed.

For example, the first statement released on Monday had the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) fee at ₦8.9 while the second statement showed ₦4,495.

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The first statement also has an inspection fee of ₦0.97, a margin fee of ₦26.48, and a distribution fee of ₦15.

In the second statement, there are no inspection and margin fees, while the distribution fee is changed to ₦42.45.

The second statement also has an additional Midstream and Gas Infrastructure Fund (MDGIF) charge of ₦4,495.

By: Babajide Okeowo

Confusion as NNPC releases new petrol price estimates first appeared on Latest Nigeria News | Headlines from Ripples Nigeria.