Date Set For Dispense Of Dangote Refinery Petrol (Video)

The Presidential Committee on the Sale of Crude Oil and Refined Products has announced that the loading of the first batch of petrol from the Dangote Refinery will officially begin on Sunday, September 15.

Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS) and a member of the committee, shared this update on the sale of petrol from Dangote Refinery during a press briefing in Abuja.

Adedeji confirmed that all necessary agreements have been finalized, allowing Dangote Refinery to start loading its first batch of Premium Motor Spirit (PMS) for distribution. “I am glad to announce that all agreements have been completed, and loading of the first batch of PMS from the Dangote Refinery will commence on Sunday, 15th September,” he stated.

Watch the video below;

Further details reveal that starting October 1, the Nigerian National Petroleum Company Limited (NNPCL) will supply the Dangote Refinery with approximately 385,000 barrels per day (bpd) of crude oil, with payments made in Naira. In exchange, the refinery will provide petrol (PMS) and diesel of equal value to the domestic market, also to be settled in Naira.

The committee also agreed that while the refinery will sell diesel to any interested buyer in Naira, PMS will exclusively be sold to the NNPC, which will then handle distribution to other marketers. Additionally, all related regulatory costs will be paid in Naira.

“From 1 October, NNPC will commence the supply of about 385,000 barrels per day of crude oil to the Dangote Refinery, which will be paid for in Naira,” Adedeji explained. “In return, the Dangote Refinery will supply PMS and diesel of equivalent value to the domestic market, also to be paid for in Naira. Diesel will be sold to any interested off-taker, while PMS will be sold only to the NNPC, which will then distribute it to various marketers,” the committee on the sale of petrol from Dangote Refinery said.
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