Reports have emerged that the Dangote Refinery is set to sell petrol at ₦766 per litre to the Nigerian National Petroleum Company Limited (NNPC).
This follows the arrival of over 300 NNPC trucks at the refinery, as confirmed by NNPC spokesperson, Olufemi Soneye, on his X (formerly Twitter) handle on Saturday. The trucks are scheduled to begin loading petrol on Sunday, September 15, 2024.
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EKO HOT BLOG reports that according to multiple sources within the Federal Ministry of Petroleum Resources, NNPC, and major energy marketers, the agreement to supply crude oil to Dangote Refinery in naira has had a notable impact on the price of Premium Motor Spirit (PMS).
A major marketer explained that the deal resembles the previous DSDP (Direct Sale of crude oil and Direct Purchase of petroleum products) arrangements NNPC had with foreign refineries, which has positively affected petrol pricing. “The cost is around ₦766/litre, but it’s unclear how much NNPC will sell to marketers,” the source stated.
A senior aide to President Bola Tinubu also confirmed that the petrol would be sold to NNPC at ₦766 per litre.
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