JUBILATION As NNPC Clears Marketers To Lift Petrol Directly From Dangote Refinery; SEE When Scarcity To End
The NNPC has recently Send an important message to all oil marketers in Nigeria over petrol from the Dangote Refinery.
A statement by the NNPC disclosed that the Dangote Refinery and others in Nigeria are free to sell to any marketer as it is a free market.
The NNPC, however, said it can only be the sole distributor of Dangote petrol if it is higher than market prices in Nigeria.
Following the statement by the Nigerian National Petroleum Company Limited (NNPCL) that it is not the only off- taker for Dangote and other local refineries, independent marketers are now free to lift petrol directly from Dangote refinery.
NNPC Says It Is Not The Sole Distributor For Dangote
The NNPC had disclosed that it expects to begin lifting products from the refinery on September 15, 2024, as that is the date given by the refinery. During the petrol launch, Dangoote said that NNPC, which holds about a 7% stake in the facility, will be the sole distributor of its products.
However, the national oil firm, responding to the Muslim Rights Concern (MURIC), said the refinery and others across the country are free to sell to anyone as it is a free market.
The NNPC disclosed that this is the practice for deregulated products, stating that it has no plan to become the sole distributor for any entity in a free market. Therefore, the notion of a sole off- taker for Dangote Refinery has yet to arise.
The company’s Chief Corporate Communications Officer, Olufemi Soneye, disclosed this as he responded to a Muslim group, the Muslim Rights Concern (MURIC), which said that the actions of the NNPC are undermining the Dangote Refinery Limited (DRL).
Soneye said that MURIC asserted that recent changes to fuel pump prices would prevent the Dangote Refinery from offering lower petrol prices to Nigerians as the NNPC became the sole buyer of all products from the refinery.
According to the NNPC, it will only fully offtake petrol from the Dangote refinery if market prices are higher than pump prices in Nigeria, stating that Dangote and any other refinery are free to sell directly to any marketer on a willing buyer, willing seller basis.
