LIVE UPDATES
The Presidential Committee on the Sale of Crude Oil and Refined Products has said the Dangote Refinery will sell Premium Motor Spirit (PMS) also known as petrol only to the state oil company, Nigeria National Petroleum Company (NNPCL).
A member of the committee and Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, disclosed this in Abuja on Friday.
He announced that loading of the first batch of petrol from the Dangote Refinery will commence on Sunday, September 15.
He said, “I am glad to announce that all agreements have been put in place, and the loading of the first batch of PMS, as already announced by the NNPCL will commence on Sunday, September 15, 2024.
"And from October 1, NNPC will commence the supply of crude oil to Dangote Refinery to be paid for in naira. In return, Dangote Refinery will supply PMS and diesel of equivalent value to the domestic market to be paid for in naira.
“But for now, PMS will only be sold to NNPC. NNPC will then sell to various marketers.”
Adedeji’s stand was later confirmed during a press conference held in Abuja by the Minister of Finance and the Coordinating Minister of the Economy, Wale Edun.
He also noted that interested marketers would have to buy the product from the national oil firm through its trading company.
This was part of the agreement reached with the management of Dangote Refinery on the commercial terms for the supply of crude oil to the refinery and the off-taking and distribution of petrol and diesel from the facility.
The latest development, however, contradicts NNPCL’s claim in a statement early this month that it did not intend to be the sole distributor of petrol produced by the Dangote refinery.
