The Nigerian National Petroleum Company Limited (NNPCL) has confirmed the purchase of petrol from the Dangote Refinery at a rate of N898 per litre. This was disclosed by NNPCL spokesperson, Olufemi Soneye, on Sunday, September 15, 2024.
Soneye clarified that the price per litre was higher than the N760 previously reported. "We successfully loaded PMS at the Dangote Refinery today. The claim that we purchased it at N760 per litre is incorrect. For this initial loading, the price from the refinery was N898 per litre," he explained.
The NNPCL dispatched about 300 trucks to the 650,000-barrel-per-day refinery located in Lagos on Saturday, with loading operations commencing on Sunday, September 15.
Many Nigerians had hoped that the entrance of Dangote Refinery into the fuel supply chain would result in lower petrol prices, given its local production capacity. However, the initial price has sparked concern over whether this will translate into cheaper fuel for consumers.
The Dangote Group, owned by billionaire Aliko Dangote, also confirmed the commencement of petroleum loading operations via its X (formerly Twitter) account, sharing photos and videos of trucks leaving the refinery facilities.
Zacch Adedeji, Chairman of the Federal Inland Revenue Service and a member of the Presidential Committee on the Sale of Crude Oil and Refined Products, previously announced that petrol supply from the refinery would begin on September 15, following an agreement on pricing and supply terms. NNPCL will serve as the sole off-taker of petrol from the Dangote Refinery, while other marketers will source their supplies from the national oil company.
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