₦airaland Forum

The Federal Government on Friday disclosed that the supply of petrol from Dangote Refinery will commence on tomorrow after both parties reached an agreement on pricing and supply.

NNPC will remain as the sole off-taker of petrol from the refinery with other marketers getting the product from the national oil company.

Speaking in Abuja, a member of the Presidential Committee on the Sale of crude Oil and Refined Products and Chairman of the Federal Inland Revenue Service, Zacch Adedeji said in return NNPC Limited would commence the supply of 385,000 barrels of crude oil to Dangote Refinery on October 1, 2024.

Adedeji announced that “all agreements have been completed and loading of the first batch of PMS from the Dangote Refinery will commence on Sunday 15th September”.

He disclosed that Dangote Refinery will in return supply PMS and diesel of equivalent value to the domestic market to be paid for in Naira.

He said other decisions reached by the committee include the sale of Diesel in Naira by the Dangote Refinery to any interested off-taker while PMS will only be sold to NNPC.

“From 1 October, NNPC will commence the supply of about 385kbpd of crude oil to the Dangote Refinery to be paid for in Naira

“In return, the Dangote Refinery will supply PMS and diesel of equivalent value to the domestic market to be paid in Naira.

“Diesel will be sold in Naira by the Dangote Refinery to any interested off-taker. PMS will only be sold to NNPC, NNPC will then sell to various marketers for now. All associated regulatory costs will also be paid for in Naira”, he added.

The agreement is expected to ease the acute shortage of petrol across the country and also allow the government to continue the payment of subsidies on the product.

The Presidential Committee on the Sale of Crude Oil and Refined Product has announced that loading of the first batch of petrol from the Dangote Refinery will commence on Sunday, September 15.

A member of the committee and Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, disclosed this in Abuja on Friday. Briefing journalists, the FIRS boss said that from October 1, the Nigerian National Petroleum Company Limited (NNPCL) will commence the supply of about 385kbpd of crude oil to the Dangote Refinery to be paid for in Naira.

Bobloco:
The agreement is expected to ease the acute shortage of petrol across the country and also allow the government to continue the payment of subsidies on the product.

Ngasky:
Why is the pms only for NNPC? That means NNPC will be the middlemen here.
Something is not clear here

PrivateSeal:
The best thing is to leave this country

richmond500:
So NNPCL will be the sole-oftaker and every other person will buy from them while subsidy still continues?

What's the nonsense talk about open market with willing buyer willing seller aggrement and enticing investors into the country?

tutudesz:
Reach agreement on which price Why can't Nigeria government be transparent for once, is NNPC a private company that such agreement is private
I blame the useless national assembly members, you have different committee's on petroleum and none of them understand their functions.

richmond500:
there is subsidy payment so they only will tell you how much they sell to the marketers and how much will be pump price. The price they buy from the refinery, they will hide it like their private part

Aile:
Corruption of the highest order. Come to think of it why will the nnpc allow dangote to sell diesel to independent marketers directly and refuse selling of petrol to them directly? Something is cooking

tutudesz:
Than Dangote should be prepared to go jail, if another government take over.
He is a business man and not a political appointee, that can hide behind the president.

NNPC will remain as the sole off-taker of petrol from the refinery with other marketers getting the product from the national oil company.

Speaking in Abuja, a member of the Presidential Committee on the Sale of crude Oil and Refined Products and Chairman of the Federal Inland Revenue Service, Zacch Adedeji said in return NNPC Limited would commence the supply of 385,000 barrels of crude oil to Dangote Refinery on October 1, 2024.

ticker:
Wait what now happens to other oil marketers

richmond500:
That his is private company, he is not answerable to any body.
Na NNPCL you go blame for not disclosing the price, if he does business with govt, he will not come and shout how much was involved.
He will not gain anything from the subsidy even.

tutudesz:
If he hides or inflate the quantity of supply with NNPC, he is answerable to government.
Nigerians want to know the daily consumption of petroleum products and NNPC has been inflating the prices for years, because of subsidy payment.

richmond500:
that's not how it works.
NNPCL is his sole buyer, also other off-takers can't compete with NNPCL cos of subsidy.
So he will bend to their rules else he will lose everything and his refinery may not survive.
This is business and not philosophy.
You can't blame Dangote here