3 months ago
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There are indications that the Nigerian National Petroleum Company Limited may not lift Dangote Refinery’s Premium Motor Spirit by Sunday, 15 September 2024, the date announced by the NNPCL.
According to sources familiar with the development, the oil firms are yet to reach a deal on the quantity and pricing of PMS to be lifted by the national oil company.
Recall that last week, the Executive Vice President of Downstream, NNPCL, Adedapo Segun announced during a live television program that the company would lift Dangote petrol on September 15.
He stressed that the major factors determining the price of petrol are foreign exchange and market forces.
However, barely a few days to Sunday, sources within the Government had disclosed that NNPCL and Dangote Refinery are yet to arrive at a deal to lift petrol.
“As we speak, no documentation from NNPCL and NMDPRA (Nigerian Midstream and Downstream Petroleum Regulatory Authority) on product lifting from Dangote Refinery.
“There is no arrangement to lift petrol from Dangoon on 15 September 2024”, the government source stated anonymously.
Efforts to confirm the development with the NNPCL’s Spokesperson, Olufemi Soneye have not yet yielded results as of the time of filing the report.
Recall that the NNPCL recently said it “will only fully offtake PMS from the DRL if the market prices of PMS are higher than the pump prices in Nigeria”.
Meanwhile, on Tuesday, the spokesperson of the Crude Oil Refiners Association of Nigeria, Eche Idoko said that there is no way the price of Dangote Refinery’s petrol will be higher if the Federal Government meets up with its crude oil sale in Naira to domestic refineries.
“There’s no way his fuel will be too expensive if all the other concessions the government has arranged come to bear. So, if those come to bear, definitely his prices will be cheaper”, he said.
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