Confusion as NNPC releases fresh petrol price estimates

The Nigeria National Petroleum Company Limited (NNPCL) has released another version of the estimated price of petrol bought from the Dangote Refinery.

The second version came barely hours after the NNPC released the initial version and it contained some adjustments.

While the data of the estimated price of pettol remains the same, the analysis of the transaction the state-owned petroleum company had with Dangote Refinery was altered.

For instance, the first statement issued on Monday had a Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) fee of ₦8.9 while the second statement showed ₦4.495.

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

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

The second statement also had an additional Midstream and Gas Infrastructure Fund (MDGIF)fee of ₦4.495.

By: Babajide Okeowo

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