The Dangote Refinery is set to supply petrol at ₦766 per litre to the Nigerian National Petroleum Company Limited (NNPC), according to multiple sources within the Federal Ministry of Petroleum Resources, NNPC, and major energy marketers.
This development follows the arrival of at least 300 trucks from NNPC at the refinery, which are set to begin loading petrol on Sunday, September 15, 2024.
The agreement to supply crude oil to the Dangote refinery in naira has significantly influenced the pricing of Premium Motor Spirit (PMS), according to industry stakeholders.
Marketers are demanding direct access to petrol from the Dangote Refinery, amid concerns over NNPC’s market control.
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A major marketer, who spoke on condition of anonymity, confirmed that the petrol would be sold at ₦766 per litre, stating that “the cost is around ₦766/litre. But I can’t tell how much NNPC is going to sell to marketers now.”
However, the exact impact on petrol prices remains uncertain, as NNPC’s pricing strategy is yet to be disclosed.
The Dangote Refinery, which is expected to commence operations soon, has the potential to significantly increase Nigeria’s refining capacity and reduce the country’s dependence on imported petroleum products.
