The Federal Government announced on Friday that petrol supply from Dangote Refinery will begin tomorrow after an agreement on pricing and supply was reached.
The NNPC will serve as the sole off-taker of petrol from the refinery, with other marketers sourcing the product through the national oil company. Speaking in Abuja, Zacch Adedeji, Chairman of the Federal Inland Revenue Service and member of the Presidential Committee on the Sale of Crude Oil and Refined Products, stated that in return, NNPC Limited will start supplying 385,000 barrels of crude oil to Dangote Refinery on October 1, 2024.
Adedeji announced that “all agreements have been completed and loading of the first batch of PMS from the Dangote Refinery will commence on Sunday 15th September”.
He disclosed that Dangote Refinery will in return supply PMS and diesel of equivalent value to the domestic market to be paid for in Naira.
He said other decisions reached by the committee include the sale of Diesel in Naira by the Dangote Refinery to any interested off-taker while PMS will only be sold to NNPC.
“From 1 October, NNPC will commence the supply of about 385kbpd of crude oil to the Dangote Refinery to be paid for in Naira
“In return, the Dangote Refinery will supply PMS and diesel of equivalent value to the domestic market to be paid in Naira.
“Diesel will be sold in Naira by the Dangote Refinery to any interested off-taker. PMS will only be sold to NNPC, NNPC will then sell to various marketers for now. All associated regulatory costs will also be paid for in Naira”, he added.
The agreement is expected to alleviate the severe petrol shortage across the country and enable the government to continue subsidizing the product.
The Presidential Committee on the Sale of Crude Oil and Refined Products announced that the first batch of petrol from Dangote Refinery will start loading on Sunday, September 15. Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS) and committee member, revealed this in Abuja on Friday.
During a press briefing, Adedeji stated that from October 1, the Nigerian National Petroleum Company Limited (NNPCL) will begin supplying about 385,000 barrels per day of crude oil to Dangote Refinery, to be paid for in Naira.
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