By correspondent.
Photo credit: Premium Times.
The Nigerian National Petroleum Company Limited (NNPCL) said it purchased fuel from Dangote Refinery at N898 per litre with over 300 trucks deployed to the refinery in Lagos on Saturday,and loading started on Sunday.
NNPCL’s Chief Spokesperson, Olufemi Soneye, clarified that the initial price of premium motor spirit (PMS) was indeed N898 per litre, contrary to earlier claims of N760 per litre.
By the time of reporting, more than 70 trucks had been loaded.
Our correspondent recalls that Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, had previously declared that NNPCL would be the exclusive off-taker of refined petrol from Dangote Refinery.
The government’s new policy, approved by the Federal Executive Council (FEC), aims to stabilize the naira, cut transaction costs, and enhance petroleum product availability.
Starting October 1st, NNPCL will supply about 385,000 barrels per day (bpd) of crude oil to Dangote Refinery in exchange for PMS and diesel, with transactions conducted in Naira.
Diesel will be available to other buyers, while PMS will be exclusively sold to NNPCL, which will distribute it to various marketers.
Source:, Daily Trust.
