NNPCL: Dangote Refinery’s Sunday Petrol Delivery Faces Setback
There are indications that the Nigerian National Petroleum Company Limited may not lift Dangote Refinery’s Premium Motor Spirit by Sunday, 15 September 2024, as previously announced by the NNPCL.
According to sources familiar with the situation, the oil firms have yet to finalize the quantity and pricing of the petrol to be lifted by the national oil company.
Last week, the Executive Vice President of Downstream, NNPCL, Adedapo Segun, announced in a live television program that the company would lift Dangote petrol on September 15.
He highlighted that foreign exchange rates and market forces are major factors determining petrol prices.
However, just days before Sunday, government sources revealed that NNPCL and Dangote Refinery have not reached an agreement on the petrol lift.
“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 Dangote on 15 September 2024,” the government source stated anonymously.
Attempts to confirm the situation with NNPCL’s Spokesperson, Olufemi Soneye, have not yet been successful as of the time of this report.
The NNPCL recently stated that it “will only fully offtake PMS from the DRL if the market prices of PMS are higher than the pump prices in Nigeria.”
Meanwhile, on Tuesday, Crude Oil Refiners Association of Nigeria spokesperson, Eche Idoko said there is no reason Dangote Refinery’s petrol should be expensive if the Federal Government fulfills its commitments regarding crude oil sales in Naira to domestic 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.