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The Nigerian government has declared that Dangote Refinery is now the direct source for petroleum marketers to buy Premium Motor Spirit (Petrol).

This was revealed in a statement released on Friday via the Ministry’s official X account by Wale Edun, the Minister of Finance and Chairman of the Naira-Crude Sale Implementation Committee.

The Nigerian National Petroleum Company Limited’s status as the exclusive off-taker of Dangote Petrol was formally terminated by the statement.

The Minister stated that this was the conclusion of the Thursday’s Implementation Committee on the Sales of Crude Oil and Refined Products in Naira meeting.

The government also reaffirmed its intention to increase PMS production domestically.

“With the commencement of local PMS production, the market is better equipped to support these direct transactions. This transition is expected to enhance efficiency in product availability and stabilize market conditions for the benefit of all Nigerians.

Fuel price hike: Marketers give reason as NNPCL inflict more pain on Nigerians

“The Committee recognizes that there are questions and discussions regarding this change in the market structure. We are committed to providing clarity on this development and will continue to engage with stakeholders to ensure a seamless transition process”, the statement said.

This comes after NNPCL raised the price of fuel at the pump to N1030 per litre in Abuja on Wednesday.

The NNPCL gasoline ex-depot price of N1010 per litre had previously been rejected by the Independent Petroleum Marketers Association of Nigeria.

In a same vein, NNPCL was ordered to reverse the latest gasoline pump price by the Nigeria Labour Congress.

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