The Presidential Committee on the Sale of Crude Oil and Refined Products has announced that the Dangote Refinery will sell Premium Motor Spirit (PMS), also known as petrol, exclusively to the state oil company, NNPCL.
A member of the committee and Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, disclosed this in Abuja on Friday, while announcing 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 NNPC, 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 explained that marketers interested in the product would need to purchase it from the national oil company through its trading subsidiary.
This was included in the agreement with Dangote Refinery regarding the supply of crude oil to the facility, as well as the off-take and distribution of petrol and diesel.
However, this recent development contradicts NNPCL’s earlier statement from this month, where it said it had no plans to be the exclusive distributor of petrol produced by the Dangote refinery.
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