The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced that payments for Premium Motor Spirit (PMS) offtake from the Dangote Refinery in September 2024 will be made in U.S. dollars. Starting October 1, 2024, these transactions will shift to the Nigerian naira in accordance with the Petroleum Industry Act (PIA).NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, clarified that PMS prices are now determined through commercial negotiations between parties rather than set by the government. The updated pricing for September 2024 is released, detailing the estimated pump prices across the country based on Dangote Refinery’s rates.In specific regions, the prices are as follows: Sokoto and Kano States are set at N999.22 per litre, while Borno State sees a higher price of N1,019.22. Lagos will have a price of N950.22, and Oyo is priced at N960.22. Prices in Katsina, Kebbi, and Zamfara States are less clear due to reported supply issues.Soneye stated that if there are disputes about the quoted prices, any discounts from the Dangote Refinery will be passed on entirely to the public. The transition to naira payments from USD will align with the new regulations under the PIA, which emphasizes a fully commercialized pricing process.