FG grants marketers’ request to lift fuel from Dangote refinery

The Federal Government has granted approval to petroleum marketers to lift petrol directly from the Dangote refinery in the Ibeju-Lekki area of Lagos State without going through the Nigerian National Petroleum Company Limited (NNPCL).

The Minister of Finance and chairman of the naira-crude sale implementation committee, Wale Edun, disclosed this in a statement on Friday, October 11, 2024.

Edun stated: “The committee is pleased to report a successful transition of operations in line with the directive issued by the Federal Executive Council. This directive has established a robust framework for local production and distribution of crude oil and refined products for local consumption in naira.

“With this mechanism now in full operation, along with the commencement of local production, we are well-positioned to transition to a fully deregulated market for all petroleum products.

Reps to FG: Allow independent marketers to lift fuel from Dangote refinery

“Moving forward, petroleum product marketers are now able to purchase PMS directly from local refineries without the intermediary role of NNPC.

“Marketers are encouraged to initiate direct purchases from refineries on mutually negotiated commercial terms, which will promote competition and improve market efficiency.”

The latest development confirms the speculation that the NNPCL will no longer be the sole off-taker of the Dangote fuel.

The Star