The Presidential Committee on the Sale of Crude Oil and Refined Products has confirmed that the Dangote Refinery will initially sell Premium Motor Spirit (PMS), also known as petrol, exclusively to the Nigerian National Petroleum Company Limited (NNPCL).
Zacch Adedeji, Chairman of the Federal Inland Revenue Service and a committee member, made this announcement on Friday in Abuja, stating that the loading of the first batch of petrol from the refinery will commence on Sunday, September 15, 2024.
He added that starting October 1, 2024, the NNPC will begin supplying crude oil to the Dangote Refinery, which will be paid for in naira. In exchange, the refinery will provide PMS and diesel of equal value to the domestic market, also paid for in naira.
For now, PMS will be sold only to NNPC, which will distribute it to various marketers. This arrangement was part of the commercial terms agreed upon for the supply of crude oil to the refinery and the off-taking of refined products.
This development seems to contradict an earlier statement from NNPCL, which had indicated it would not be the sole distributor of petrol from the Dangote Refinery.
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