“We get Petrol from Dangote Refinery at N898 per litre” – NNPC

The Nigerian National Petroleum Company Limited (NNPC) has announced it purchased petroleum from Dangote Refinery at a rate of N898 per litre.

NNPC said it dispatched about 300 trucks to the 650,000-barrels-per-day capacity refinery in Lagos on Saturday, September 14, with loading operations commencing today, Sunday.

Given that Dangote is a local refinery, the majority of Nigerians had hoped that its entry into the market would have reduced the price of petrol.

However, spokesperson for the NNPCL, Olufemi Soneye, on Sunday revealed the company bought the fuel at N898 per litre contrary to reports claiming N760.

“We successfully loaded PMS at the Dangote Refinery today. The claim that we purchased it at N760 per litre is incorrect. For this initial loading, the price from the refinery was N898 per litre,” he said.

Dangote Group, owned by Aliko Dangote, announced it had started loading petroleum in a post made on its X  account, where it shared photos and videos of loaded trucks leaving the facilities.

“HAPPENING NOW: First set of trucks set for loading of PMS at the Dangote Petroleum Refinery,” it said in the post.

Zacch Adedeji, the Chairman of the Federal Inland Revenue Service and member of the Presidential Committee on the Sale of Crude Oil and Refined Products had earlier announced that the supply of petrol from Dangote Refinery, Lagos, would begin on September 15, following an agreement reached on pricing and supply terms.

According to Adedeji, the NNPC would serve as the sole off-taker of petrol from the Dangote Refinery, with other marketers sourcing the product from the national oil company.