By Anas Abbas
The Nigerian National Petroleum Company Limited (NNPCL) Buys Petrol from Dangote Refinery at N898 per Litre, Commences Loading of 300 Trucks on Sunday.
The Daily Reality, reported that, NNPCL’s Chief Spokesperson, Olufemi Soneye, clarified that the initial loading price was N898 per litre, debunking claims of N760 per litre.
As of press time, over 70 trucks had been loaded.This milestone follows the announcement by Finance Minister Wale Edun that NNPCL will be the sole off-taker of refined petrol from Dangote Refinery.
The minister revealed that diesel from the refinery would be sold in Naira to interested buyers, while PMS would be sold exclusively to NNPCL for distribution to marketers.
The Federal Executive Council (FEC), led by President Tinubu, had approved the sale of crude to local refineries in Naira and corresponding purchase of petroleum products in Naira.
This initiative aims to reduce pressure on the naira, eliminate transaction costs, and improve petroleum product availability.
Implementation committees have worked tirelessly to finalize modalities, with NNPCL set to supply 385kbpd of crude oil to Dangote Refinery from October 1.
In return, the refinery will supply PMS and diesel of equivalent value to the domestic market, paid for in Naira.
The government is also establishing a one-stop shop in Lagos to streamline service provision from regulatory agencies, security agencies, and stakeholders, ensuring a seamless implementation of this initiative.