Home News NNPCL buys fuel at N898 per litre from Dangote Refinery

NNPCL buys fuel at N898 per litre from Dangote Refinery

NNPCL buys fuel from Dangote Refinery at N898 per litre
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The Nigerian National Petroleum Company Limited (NNPCL) has disclosed that it purchased petrol from the Dangote Refinery at a rate of N898 per litre, according to a report by Daily Trust.

The company began loading fuel at the 650,000-barrel-per-day capacity refinery in Lagos on Sunday, following the movement of 300 trucks to the site on Saturday. NNPCL’s Chief Spokesperson, Olufemi Soneye, refuted claims that the petrol was bought at N760 per litre, confirming the N898 per litre price for this initial delivery.

As of the time of reporting, over 70 trucks had been successfully loaded with premium motor spirit (PMS), also known as petrol. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, had previously announced that NNPCL would be the sole off-taker of refined petrol from Dangote Refinery.

This was discussed during the Technical Sub-Committee meeting on the sale of crude oil to local refineries in Naira, held last Friday.

The Finance Minister, represented by Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), stated that diesel from the refinery could be sold in Naira to any off-taker, while PMS would be exclusively sold to NNPCL, who would then distribute it to various marketers.

He also confirmed the completion of all agreements and modalities for implementing the Federal Executive Council (FEC) approval, allowing crude to be sold to local refineries and petroleum products purchased in Naira.

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