₦airaland Forum

The Dangote Petroleum Refinery is set to roll out the sale of Premium Motor Spirit, otherwise known as petrol, The PUNCH can report authoritatively.

This is coming a few days after the 650,000-capacity refinery engaged in a test-run of the product.

Industry sources confirmed to our correspondent that the product would hit the market soon.

The sources, who pleaded anonymity, told our correspondent that the government and the Dangote Group were working out modalities for the circulation of the product.

Health 360: Self Medication0:00 / 0:00

A government source hinted that the sale and distribution of the PMS is being sorted out with the Federal Government.

The source added that only the Nigerian National Petroleum Company Limited would be authorised to sell the Dangote fuel at the moment.

Recall that petrol from the Dangote refinery was supposed to have been out since June, but the refinery battled crude shortage and entered into a brawl with the Nigerian Midstream and Downstream Regulatory Authority, which accused the refinery of producing substandard diesel.


The intervention of the Federal Government that crude oil should be supplied to the refinery in the local currency seems to be yielding the desired result.

The PUNCH also recalls that Dangote and other local refineries have repeatedly accused international oil companies of not selling crude to the local refiners.

Recently, the Federal Government announced that the crude oil supply deal would commence in October

The management of Dangote Group also alleged that the IOCs insisted on selling crude oil to its refinery through their foreign agents, saying the local price of crude would continue to increase because the trading arms offered cargoes at $2 to $4 per barrel, above NUPRC official price.


The group also alleged that the foreign oil producers seem to be prioritising Asian countries in selling the crude they produce in Nigeria.

The PUNCH also reported last month that the Dangote refinery engaged in an exchange of words with the Nigerian Upstream Petroleum Regulatory Commission over the alleged supply of 29 million barrels of crude oil to the refinery.

The Dangote Group had accused the NUPRC of failing to effectively enforce the Domestic Crude Supply Obligations regulations, saying the refinery had yet to get enough crude locally.


Reacting, the NUPRC debunked the claim, stating that it facilitated the supply of over 29 million barrels of crude oil to Dangote from January to June 2024.

The NUPRC argued that it had facilitated the domestic supply of crude oil to Dangote refinery and other refineries using the monthly production curtailment platform.

But in a swift response, the Dangote Group also denied receiving 29 million barrels of crude from any source.

Spokesperson of the Dangote Group, Anthony Chiejina, said, “We received NUPRC’s statement that they have facilitated the allocation of 29 million barrels of crude oil to the Dangote Petroleum Refinery and Petrochemicals, we would like to thank them for this allocation but at the same time, we wish to let them know that we are yet to receive these cargoes.

“Aside from the term supply we bilaterally negotiated with NNPCL, so far NUPRC has only facilitated the purchase of one crude cargo from a domestic producer. The rest of the cargoes we have processed were purchased from international traders.”

Chiejina added that all the refinery was asking for was for refineries in Nigeria to buy crude directly from the companies that produce it in Nigeria rather than from international middlemen.

Nigerians are hopeful that Dangote will crash the pump price of PMS.

https://punchng.com/dangote-petrol-ready-for-rollout/

Fantastic news to start the day.

We are now officially self-sufficient in refined petroleum products and petrochemicals, as well as being the continent's largest producer and exporter of same, courtesy of the world class Dangote Refinery.

Brighter days ahead.

God bless Nigeria.

Will this affect the price of fuel?

I really thank God for this, may his name be praised

Waiting

We are all hoping for a successful rollout and eventual price reduction.

Nigerians will now have to choose between availability or low pricing?

Nigerians are now hoping that these rollouts will at least ensure a reduction in the fuel pump price. 

Nigerians have really suffered under this calamitous Tinubu regime; in fact, no regime in the history of this country has inflicted so much pain and anguish on the citizens like this current calamitous Tinubu regime.

It shall never be well with those who worked, supported, and encouraged this regime.

Should we really expect a reduction in fuel price, because some Govt officials reason that a reduced fuel price will further fuel smuggling of products to neighbouring countries.

"Dangote is doing well" in Mr Macaroni's voice.
The man makes news and industry real unlike content creating govt officials .

Awesome!!

Nothing changes.


I saw him monopolise cement and Nothing changed.

Selfish capitalist

Where are those "I have a sister there, that says the refinery will not work until 2050'?

They will soon come and try to reap where they neither sowed or were outrightly against him.

Good.

But at what price?

Did you try to open a cement factory and you were told that because Dantotte already has a factory therefore you cannot open one?

How exactly did he monopolize the cement industry?
Many of you mistake market share for monopoly. He has a very large market share in cement but not monopoly.

There are other areas where he has a low market share eg noodles. so will you say the markers of indomie enjoy a monopoly when infact what they have is a large market share?

lazkizz:
Nothing changes.


I saw him monopolise cement and Nothing changed.

Selfish capitalist

At leasttherw would be supplies

No landing cost or inter ship transfers from Napoli

For how much

Some people will have sleepless night today after hearing this good news. I have never seen a set of people that good news gives them mood swing, the hate is real even as far as one of their sisters threatening to poison some certain ethnic group. I wonder how Biafra will look like.

Good news

Let the price crashing begin

Good one from dangote refinery here

Also note that there would be no subsidy. I expect a liter to be around 800

The source added that only the Nigerian National Petroleum Company Limited would be authorised to sell the Dangote fuel at the moment.

This is a no-brainer.
Only NNPC can buy high and sell low with subsidy.

Finally the behemoth has roared,it was only a matter of when petrol will roll out and not if.
For months,I have been a cheer leader for the behemoth called the Dangote Refinery because if that project fails,Nigeria is Doomed.
I believe even the NNPCL is accepting this fact and is slowing winding down its operation.
Jagaban is a master planner, dribbler and ruthless executioner.
He has played 4 check moves In the last 2 months that Intelligent Nigerians would have deciphered.
Jagaban is a very easy man to predict,just that naive Nigerians are so beclouded by Anger and the Hunger in the land.
My apologies to all Nigerians on this very terrible situation we have found ourselves in our country.
First he announced NNPCL must sell crude to local Refineries in the Local Currency,check MOVE 1, infact according to reports, Jagaban presented the memoranda at the FEC meeting.
Second check MOVE,NNPCL quietly ceded all their Downstream operations to OVH an upshoot of Oando, Jagaban quietly took over the distribution of the products that would be refunded by Dangote and sold to NNPCL.
Thirdly Oando bought over some oil mining licenses called OPL some weeks,3rd CHECK MOVE,this is killing 2 birds with one big stone,now he can supply Dangote Refinery all the crudes it needs, releasing its dependence on The mad IOCs operating in Nigeria.
The last move CHECK MOVE is something he planned out a year ago, constructing the Lagos-calabar Coastal highway,to evacuate products from the Refinery directly to states on the coastal belt.
Jagaban is a genius,I repeat the man is a guru and a master at planning and execution.
I believe this issue of scarcity was intentional to give Dangote the leeway to possibly sell a litre at 800-900 per litre.
I'm also sure the dark days of fuel scarcity and subsidy payment are over for good.
As a Nigerian,what's your benefit or investment when the first drop of Petrol rolls out from the Refinery.
It's not too late to own a property on the Lagos-calabar Coastal highway, visit my signature for more details.
God bless Nigeria.

Rossikk:
Fantastic news to start the day.

We are now officially self-sufficient in refined petroleum products and petrochemicals, as well as being the continent's largest producer and exporter of same, courtesy of the world class Dangote Refinery.

Brighter days ahead.

God bless Nigeria.

Yep, good news.

Very good news. Honestly Nigerians can't wait

So NNPC abandoned their own four refineries just to boost Lagos IGR by patronizing Dangote?

But your Igbo tribesmen claim the Dangote Refinery will not be ready till 4040, where is Dangote now seeing the petrol he wants to roll out.

Abi Dangote go borrow the fuel ? You all wish Dangote is another Orient Petroleum Refinery SCAM by Peter Obi ba ?!

No Dangote is not a Nigerian politician m criminal like Peter Obi n co. He laboured hard for his money.

iwaeda:
The Dangote Petroleum Refinery is set
https://punchng.com/dangote-petrol-ready-for-rollout/

Nlfpmod, always ready, same they said in August. Nigeria we hail thee.

Aement

Parable007:
Will this affect the price of fuel?

Not significantly. In fact, he is likely to sell above the current NNPN rate of around N890.

All these news about rollout are just long stories. Dangote has already refined millions of liters of PMS. His major challenge is what price to sell. When NNPC issues the public statement saying the refinery can go ahead to sell to independent marketers on a willing buyer and willing seller basis, Dangote quickly planted a story in the media that the refinery is looking towards selling outside the country.

Without NNPC coming in as the sole offtaker to absolve the under recovery, Dangote will have to sell at a price higher than what you’re currently buying from NNPC stations. There is no other way.

Ezewuzie01:
So NNPC abandoned their own four refineries just to boost Lagos IGR by patronizing Dangote?

Let’s just go and burn the Dangote refinery because Ezewuzie from SE is angry that it will contribute to the economy of Lagos.

Kaycee9242:
For how much

Market reflective price = cost of production + cost of production + profit margin for both producer and distributors.