Chiejina, while failing to tell Nigerians the price at which the refinery sold its fuel to the NNPC Ltd., said its current stock of crude was procured in dollars and sold to the NNPC Ltd. in dollars with a lot of savings against current imports. However, the NNPC Ltd. insisted that in line with the provisions of the Petroleum Industry Act (PIA), PMS prices were not set by Government, but negotiated directly between parties on an arms length. “The NNPC Ltd. can confirm that it is paying Dangote Refinery in United States Dollars (USD) for September 2024 PMS offtake, as Naira transactions will only commence on Oct. 1, 2024.