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In a major milestone towards achieving energy independence, 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 commence on Sunday, September 15.
Chairman of the Federal Inland Revenue Service (FIRS) and a member of the committee, Zach Adedeji, disclosed this at a press conference in Abuja on Friday. Adedeji expressed joy over the development, stating that all necessary agreements have been concluded.
The committee also decided that diesel will be sold in Naira by the Dangote Refinery to interested buyers, while PMS will be sold exclusively to the Nigerian National Petroleum Company Limited (NNPCL). The national oil company will then distribute the product to various marketers.
“I am pleased to announce that all agreements have been finalized, and the loading of the first batch of PMS from the Dangote Refinery will commence on Sunday, September 15,” Adedeji said.
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As part of the agreement, the Nigerian National Petroleum Company Limited (NNPCL) will supply about 385,000 barrels of crude oil per day (kbpd) to the Dangote Refinery, effective October 1, with payment to be made in Naira. In return, the refinery will supply Premium Motor Spirit (PMS) and diesel of equal value to the domestic market, also paid in Naira.
“From October 1, NNPC will start supplying about 385,000 barrels of crude oil per day to the Dangote Refinery which will be paid in Naira. In return, the Dangote Refinery will supply PMS and diesel of equivalent value to the domestic market which will be paid in Naira,” Adedeji explained.
“All related regulatory fees will also be paid in Naira,” Adedeji added.
The development marks a significant step towards reducing Nigeria’s dependence on imported petroleum products and enhancing the country’s energy security. The Dangote refinery, with a refining capacity of 650,000 barrels per day, is poised to play a key role in Nigeria’s drive to achieve energy self-sufficiency.
Dangote Refinery to commence exclusive petrol sales to NNPCL September 15 first appeared on Latest Nigeria News | Headlines from Ripples Nigeria.
