FG Permits Marketers To Directly Lift Dangote Petrol

The Nigerian government has announced that petroleum marketers are now able to buy Premium Motor Spirit (Petrol) directly from Dangote Refinery.

This information was shared by the Minister of Finance, Wale Edun, who is also the Chairman of the Naira-Crude Sale Implementation Committee, via a statement on the Ministry’s official X account on Friday.

This announcement marks the end of the Nigerian National Petroleum Company Limited’s exclusive role as the sole buyer of Dangote Petrol.

The Minister stated that this decision resulted from a meeting of the Implementation Committee on the Sales of Crude Oil and Refined Products in Naira, which took place on Thursday.

Furthermore, the government emphasized its dedication to increasing local production of PMS.

“With the start of local PMS production, the market is better positioned to facilitate these direct transactions. This shift is anticipated to improve efficiency in product availability and stabilize market conditions for the benefit of all Nigerians.

“The Committee acknowledges that there are inquiries and discussions surrounding this change in market structure. We are committed to clarifying this development and will continue to engage with stakeholders to ensure a smooth transition,” the statement noted.

This announcement follows the NNPCL’s increase of fuel pump prices to N1030 per liter in Abuja on Wednesday.

Previously, the Independent Petroleum Marketers Association of Nigeria had opposed the NNPCL’s petrol ex-depot price of N1010 per liter.

In addition, the Nigeria Labour Congress has urged the NNPCL to reverse its recent fuel pump price hike.