There are hints that Dangote Refinery’s Premium Motor Spirit may not be lifted by the Nigerian National Petroleum Company Limited by Sunday, September 15, 2024, as the NNPCL has announced.
The oil companies have not yet agreed on the quantity and price of PMS to be lifted by the national oil company, according to people acquainted with the development.
Recall that last week, Adedapo Segun, the Executive Vice President of NNPCL’s Downstream, declared live on television that Dangote petrol would be discontinued by the firm on September 15.
He emphasised that market forces and foreign exchange play a big role in setting the price of petrol.
But just a few days before Sunday, government insiders revealed that NNPCL and Dangote Refinery are yet to arrive at a deal to lift petrol.
“As we speak, no documentation from NNPCL and NMDPRA (Nigerian Midstream and Downstream Petroleum Regulatory Authority) on product lifting from Dangote Refinery.
“There is no arrangement to lift petrol from Dangoon on 15 September 2024”, the government source stated anonymously.
As at the time the article was filed, attempts to confirm the development with Olufemi Soneye, the NNPCL’s spokesperson, had not yet produced results.
Recall that the NNPCL recently said that it “will only fully offtake PMS from the DRL if the market prices of PMS are higher than the pump prices in Nigeria.”
On Tuesday, however, Eche Idoko, the spokesman for the Crude Oil Refiners Association of Nigeria, stated that there is no way that the price of petrol at Dangote Refinery will increase if the Federal Government matches its Naira crude oil sales to local refineries.
“There’s no way his fuel will be too expensive if all the other concessions the government has arranged come to bear. So, if those come to bear, definitely his prices will be cheaper”, he said.
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