Fuel price: NNPC quits role as sole buyer of Dangote Refinery petrol

The Nigerian National Petroleum Company Limited, NNPCL, has reportedly quit its role as the sole buyer of Dangote Refinery’s Premium Motor Spirit (petrol).

This is according to a Premium Times report on Monday.

The implication is that petroleum marketers would have to purchase petrol directly from Dangote Refinery.

When DAILY POST contacted the spokesperson of NNPCL, Olufemi Soneye on Monday for his reaction to the development, he did not pick up the call or respond to a text by our correspondent.

DAILY POST also contacted Dangote Refinery. The company’s spokesperson, Anthony Chiejina, said, “I’ll call you back”. But he is yet to do so at the time of filing this report on Monday.

However, an official of NNPCL reportedly told Premium Times: “Yes, it is true. We can no longer continue to bear that burden.”

This comes weeks after NNPCL lifted petrol from Dangote Refinery on 15th September 2024.

Recall that upon the lifting of petrol from Dangote Refinery, NNPC announced fresh fuel prices across its retail outlets nationwide.

The development saw the petrol pump increase to between N950 and N1,100 per liter in petrol filling stations in the Federal Capital Territory, Abuja.

Meanwhile, the NNPCL’s latest move to quit its role as sole off-taker of Dangote Petrol had fueled fresh anxiety about another fuel price hike.

Earlier, the House of Representatives had asked Dangote Refinery to sell petrol directly to oil marketers.

This comes as the Nigerian government at the weekend confirmed that it has begun crude oil sales to Dangote Refinery in Naira.

Earlier, marketers and refiners had hinted that the commencement of Naira-for-crude to Dangote Refinery may lead to fuel price reduction.