The Nigerian National Petroleum Company Limited (NNPCL) has finalized an agreement to sell crude oil to the Dangote Petroleum Refinery in Naira, as confirmed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
This development was announced on Tuesday through NMDPRA’s official X (formerly Twitter) account.
As part of the deal, the refinery is expected to begin supplying an initial 25 million liters of Premium Motor Spirit (PMS) to the domestic market by September 2024.
The volume will increase to 30 million liters per day starting in October 2024.
This move marks a significant step in bolstering Nigeria’s local fuel production and reducing reliance on imported petroleum products.
Earlier, it was reported that Dangote Refinery has commenced the sales of Petrol with an assurance that fuel would be available in stations across the federation in 48hrs.
Get instant and latest news updates via Our WhatsApp Community or Google News online channel.