The Federal Government announced on Friday that petrol supply from the Dangote Refinery will commence tomorrow after finalizing agreements on pricing and supply.
The NNPC will be the sole distributor of petrol from the refinery, with other marketers obtaining the product through the national oil company.
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, stated that NNPC Limited will begin supplying 385,000 barrels of crude oil to the Dangote Refinery starting October 1, 2024.
Adedeji confirmed that all agreements are in place, and the first batch of PMS from the Dangote Refinery will be loaded on Sunday, September 15. The refinery will provide PMS and diesel of equivalent value to the domestic market, with payments made in Naira.
He added that the committee decided diesel would be sold in Naira to any interested off-taker, while PMS will be exclusively sold to NNPC, which will then distribute it to various marketers. All related regulatory costs will also be paid in Naira.
This agreement is expected to ease the severe petrol shortage in the country and enable the government to continue subsidizing the product.
