The Nigerian National Petroleum Company Limited (NNPCL) has reportedly discontinued its exclusive role as the primary purchaser of Dangote Refinery's Premium Motor Spirit (petrol). According to a report by Premium Times on Monday, this decision implies that petroleum marketers will now need to procure petrol directly from Dangote Refinery.
When contacted for a response to this development, NNPCL's spokesperson, Olufemi Soneye, did not answer the call or respond to a text from our correspondent. Similarly, Dangote Refinery's spokesperson, Anthony Chiejina, promised to return the call but had not done so at the time of filing the report on Monday.
An official from NNPCL reportedly confirmed to Premium Times: "Yes, it is true. We can no longer continue to bear that burden."
This change follows NNPCL's lifting of petrol from Dangote Refinery on September 15, 2024, which resulted in NNPC announcing new fuel prices at its retail outlets nationwide. Consequently, petrol prices at filling stations in the Federal Capital Territory, Abuja, rose to between N950 and N1,100 per liter.
NNPCL's decision to relinquish its exclusive off-taker role for Dangote Petrol has raised concerns about a potential fuel price increase. Earlier, the House of Representatives had urged Dangote Refinery to directly sell petrol to oil marketers.
The Nigerian government confirmed over the weekend that it has commenced crude oil sales to Dangote Refinery in Naira. Marketers and refiners had previously suggested that the switch to Naira-for-crude transactions with Dangote Refinery might lead to a reduction in fuel prices.
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