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Emerging reports indicate that the Dangote Refinery is poised to sell petrol at N766 per litre to the Nigerian National Petroleum Company Limited (NNPC). ...READ THE FULL STORY FROM SOURCE ...READ THE FULL STORY FROM SOURCE
This development follows the arrival of at least 300 trucks from NNPC at the refinery.
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Multiple sources within the Federal Ministry of Petroleum Resources, NNPC, and major energy marketers have confirmed that the agreement to supply crude oil to the Dangote refinery in naira has significantly influenced the pricing of Premium Motor Spirit (PMS).
NNPC spokesperson, Olufemi Soneye, announced on his X handle (formerly Twitter) on Saturday that the trucks have arrived and are set to begin loading petrol on Sunday, September 15, 2024.
A major marketer who spoke with Punch on the development said, “What we are going to see based on the deal between NNPC and Dangote is similar to the DSDP (Direct Sale of crude oil and Direct Purchase of petroleum products) transactions that used to exist between NNPC and foreign refineries in the past.
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“And this has really impacted positively on the price of petrol that Dangote is selling to NNPC, because the cost is around N766/litre. But I can’t tell how much NNPC is going to sell to marketers now.”
Another senior aide to President Bola Tinubu, who spoke on condition of anonymity, confirmed that the petrol would be sold at N766/litre.▶For More READ THE FULL STORY▶▶
