The Federal Government announced on Friday that petrol supply from the Dangote Refinery will commence tomorrow after both parties reached an agreement on pricing and supply.
The Nigerian National Petroleum Company Limited (NNPC) will remain the sole off-taker of petrol from the refinery, with other marketers obtaining the product from NNPC.
Speaking in Abuja, Zacch Adedeji, a member of the Presidential Committee on the Sale of Crude Oil and Refined Products and Chairman of the Federal Inland Revenue Service (FIRS), confirmed that the NNPC would begin supplying 385,000 barrels of crude oil to the Dangote Refinery starting October 1, 2024.
Adedeji further revealed that “all agreements have been completed, and loading of the first batch of PMS from the Dangote Refinery will commence on Sunday, September 15.”
In return, Dangote Refinery will supply petrol (PMS) and diesel of equivalent value to the domestic market, with payments made in Naira.
He also stated that while diesel will be sold to any interested off-taker in Naira, PMS will be sold exclusively to NNPC, which will then distribute it to various marketers. “All associated regulatory costs will also be paid for in Naira,” he added.
The agreement is expected to alleviate the ongoing petrol shortages across the country and allow the government to continue managing subsidies on the product.
