Nigerians May Buy Dangote Petrol For ₦857, ₦865 Per Litre

Nigerians’ quest to purchase cheaper Premium Motor Spirit (PMS) may be realised after all as facts emerged that Dangote petrol may sell for N857 to N865 per litre.

Already, the Nigerian National Petroleum Corporation Limited (NNPCL) will start lifting the product from Dangote Refinery today barring any unforeseen circumstances after NNPCL agreed to lift petrol product at N960/N980 per litre and sell to marketers at N840/N850 even though it is unclear if uniform product prices would apply at filling stations nationwide

Chief Corporate Communications Officer, NNPC Ltd., Olufemi Soneye, who confirmed the readiness of the company to start lifting petrol today, told Sunday Vanguard, yesterday: “NNPC Ltd has started deploying our trucks and vessels to the Dangote Refinery to lift PMS in preparation for the scheduled lifting date of September 15th, as set by the refinery.

“Our trucks and personnel are already on-site, ready to begin lifting. We expect more trucks, and the deployment will continue throughout the weekend so we can start loading as soon as the refinery begins operations on September 15, 2024.”

Soneye hinted that at least 100 trucks had already arrived at the refinery for the petrol lifting, adding that the number of trucks could increase to 300 by Saturday evening.

On his part, Executive Secretary, of Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Olufemi Adewole, said: “We have been lifting diesel (AGO) and aviation fuel (jet fuel) and we look forward to lifting petrol (PMS).”

“We await clarity in respect of the pricing mode, and once that is clarified, we’ll do the needful towards meeting the energy needs of Nigerians.”

Edun, the Minister of Finance and Coordinating Minister of the Economy, yesterday, said the structuring of the NNPCL, Dangote Refinery deal in Naira would assist in reducing pressure on the local currency.

A statement by the Director of information and Public Relations in the ministry, Mohammed Manga, stated: “In a landmark move towards reducing pressure on the Naira, eliminating unnecessary transaction costs, and improving availability of petroleum products, the Federal Government has successfully initiated the sale of crude to local refineries as well as corresponding purchase of petroleum products in Naira.

“The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, disclosed this today in his office in Abuja shortly after the Technical Sub-Committee meeting on the sale of crude oil to local refineries in Naira.

“Represented by the Executive Chairman, Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji, the Minister announced the completion of all agreements and modalities for the implementation of the Federal Executive Council (FEC) approval on the sale of crude to local refineries in Naira and corresponding purchase of petroleum products in Naira.