Emerging reports reveal that the Dangote Refinery is set to sell petrol at ₦766 per litre to the Nigerian National Petroleum Company Limited (NNPC). This development follows the arrival of at least 300 NNPC trucks at the refinery, ready to begin loading on Sunday, September 15, 2024.
The pricing of Premium Motor Spirit (PMS) has been significantly influenced by a recent agreement to supply crude oil to the Dangote Refinery in naira. Sources from the Federal Ministry of Petroleum Resources, NNPC, and major energy marketers have confirmed this arrangement.
Olufemi Soneye, NNPC’s spokesperson, took to X (formerly known as Twitter) on Saturday to announce the trucks’ arrival and confirmed that loading will commence the following day.
NNPC Ltd. trucks are arriving at the Dangote Refinery in preparation for the scheduled petrol loading on Sunday, September 15, 2024. By the end of today, at least 300 trucks will be stationed at the refinery’s fuel loading gantry. pic.twitter.com/fVrpWC3F1r
— Femi Soneye (@FM_Soneye) September 14, 2024
A major energy marketer explained the deal’s structure, likening it to the former Direct Sale of crude oil and Direct Purchase of petroleum products (DSDP) arrangements between NNPC and foreign refineries. This agreement, they noted, has positively impacted the price of petrol being sold to NNPC, which now stands at ₦766 per litre. However, it remains unclear how much NNPC will charge marketers.
A senior aide to President Bola Tinubu, who spoke anonymously, also confirmed the ₦766/litre price for the petrol from the refinery, marking a significant moment in Nigeria’s fuel supply chain.
