The Nigerian National Petroleum Company Limited (NNPC) has confirmed the purchase of Premium Motor Spirit (PMS), commonly known as petrol, from the Dangote Refinery at a price of ₦898 per litre. This was disclosed by the NNPC’s spokesperson, Olufemi Soneye, following the commencement of fuel lifting from the 650,000 barrels-per-day refinery, located in Ibeju-Lekki, Lagos State.
On Sunday, over 300 trucks from NNPC were deployed to the refinery to load the first batch of petrol. In response to earlier reports that suggested the company bought petrol at ₦760 per litre, Soneye clarified the actual price. “The claim that we purchased it at ₦760 per litre is incorrect. For this initial loading, the price from the refinery was ₦898 per litre,” he stated.
Soneye further revealed that more than 70 trucks had already been loaded with petrol as of the time of this report.
This development follows an announcement by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, that NNPC would be the sole off-taker of refined petrol from the Dangote Refinery. During a Technical Sub-Committee meeting held on Friday, Edun, represented by the Executive Chairman of the Federal Inland Revenue Service, Zaccheus Adedeji, disclosed that while diesel from the refinery would be sold in Naira to interested buyers, petrol sales would be exclusively reserved for NNPC, which would then distribute it to various marketers.
Adedeji also confirmed that all agreements and modalities for the sale of crude oil to local refineries in Naira and the purchase of petroleum products in the same currency had been finalized, following approval from the Federal Executive Council.
