NNPC Purchases Petrol from Dangote Refinery at N898 Per Litre ā€“ Spokesman

IPMAN, Dangote Reach Deal for Direct Lifting of Petrol
Dangote refinery
Adedeji further elaborated that while petrol will be sold exclusively to NNPC, diesel from the Dangote Refinery will be available for sale in Naira to other interested buyers.

Lagos, Nigeria ā€“ The Nigerian National Petroleum Company Limited (NNPC) has confirmed the purchase of Premium Motor Spirit (PMS), commonly known as petrol, from the Dangote Refinery at a price of N898 per litre.

This was revealed by NNPC spokesman, Olufemi Soneye, following the commencement of petrol lifting from the refinery, which has a production capacity of 650,000 barrels per day.

Reports indicate that over 300 trucks from NNPC arrived at the refinery, located in the Ibeju-Lekki area of Lagos State, to lift the first batch of the refined product. As of the time of the announcement, more than 70 trucks had already been loaded.

Addressing earlier claims that NNPC had purchased petrol at N760 per litre, Soneye clarified that these figures were incorrect. He stated, ā€œWe successfully loaded PMS at the Dangote Refinery today. The claim that we purchased it at N760 per litre is incorrect. For this initial loading, the price from the refinery was N898 per litre.ā€

The development follows the announcement by Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, that NNPC would serve as the sole off-taker of refined petrol from the Dangote Refinery.

Edun, who was represented by Zaccheus Adedeji, the Executive Chairman of the Federal Inland Revenue Service, made this known during a Technical Sub-Committee meeting on the sale of crude oil to local refineries.

NNPC Purchases Petrol from Dangote Refinery at N898 Per Litre
Mela Kyari, NNPCL Managing Director

Adedeji further elaborated that while petrol will be sold exclusively to NNPC, diesel from the Dangote Refinery will be available for sale in Naira to other interested buyers.

He also confirmed the completion of agreements and modalities for the Federal Executive Council’s approval on the sale of crude oil to local refineries in Naira, with the corresponding purchase of petroleum products in the same currency.


Copyright 2024 REPORT AFRIQUE (RA). Permission to use portions of this article is granted provided appropriate credits are given to www.reportafrique.com and other relevant sources.This Article is Fact-Checked. See Policy.
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