The Nigerian National Petroleum Company Limited (NNPCL) has commenced loading Premium Motor Spirit (PMS), otherwise known as petrol, at the Dangote Oil Refinery and Petrochemicals in the Ibeju-Lekki area of Lagos State.

The Dangote Group disclosed this via a post on X on Sunday, September 15, 2024.

“NNPC begins PMS lifting at the Dangote Petroleum Refinery,” the company noted.

The latest development is coming barely 24 hours after the NNPCL deployed over 100 trucks to lift petrol from the Dangote refinery.

The Star had reported that the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the Dangote refinery will begin the distribution of petrol on Sunday.

Edu stated that the Dangote refinery will sell petrol to only the NNPCL.

NNPCL deploys over 100 trucks to lift petrol from Dangote refinery

Speaking at a press conference in Abuja on Friday, September 13, the minister, who was represented by the Chairman of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji, the minister added that the NNPCL will commence the supply of crude oil to the Dangote refinery on October 1.

He said: “I am glad to announce that all agreements have been completed and loading of the first batch of PMS from the Dangote refinery will commence on Sunday, September 15.

“From October 1, NNPCL will commence the supply of about 385kbpd of crude oil to the Dangote Refinery, to be paid for in Naira. In return, the Dangote refinery will supply PMS and diesel of equivalent value to the domestic market, to be paid in naira.

“Diesel will be sold in Naira by the Dangote refinery to any interested off-taker. PMS will only be sold to NNPCL, NNPCL will then sell to various marketers for now.”

Edun further disclosed that all associated regulatory costs (NPA and NIMASA, among others) would also be paid for in naira.

The Star