The Nigerian National Petroleum Company Limited (NNPC) has scrapped its exclusive purchase agreement with Dangote Refinery.
It is believed that the development paved the way for other marketers to buy petrol directly from the facility.
READ ALSO: Dangote Refinery Set to Receive 400,000 Barrels of Crude Daily Under New Agreement
The move marks a shift towards a deregulated market, allowing marketers to negotiate prices directly with Dangote Refinery, rather than relying on NNPC as the sole off-taker.
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It also aligns with the ‘willing buyer, willing seller’ model, promoting competition and potentially stabilizing fuel prices in Nigeria.
Furthermore, the development is seen as a step towards liberalizing the country’s downstream oil sector, encouraging private investment and improving supply chain efficiency.
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