The Nigerian House of Representatives has called on the federal government to intervene and allow independent petroleum marketers to lift Premium Motor Spirit (PMS) from the Dangote Refinery.
This follows concerns raised by a representative from Bayelsa State, Oboku Oforji about the current monopoly where only the Nigerian National Petroleum Corporation Limited (NNPCL) and Major Marketers are granted access to the refinery’s products.
However, the motion comes after the Dangote Petroleum Refinery began operations on September 15, 2024, with its 650,000 barrels-per-day (BPD) integrated refinery.
While NNPCL was initially named as the sole off-taker, recent changes allowed Major Marketers access to PMS.
Also, Oforji commended this milestone, emphasising Nigeria’s journey toward energy self-sufficiency and economic growth, but expressed concerns over the exclusion of independent marketers.
In addition, Oforji argued that allowing Independent Petroleum Marketers alongside NNPCL and Major Marketers would foster competition, increase PMS availability, and reduce prices.
Furthermore, he criticized the monopoly, warning it could drive Independent Marketers to resort to fuel imports, aggravating PMS scarcity and its economic consequences.
Also Read: Dangote Calls For End To Oil Subsidies Amid Nigeria’s Economic Struggles
The House also called for transparency, urging NNPCL to disclose the price at which it purchases PMS from Dangote Refinery and for the refinery to reveal its selling price to NNPCL. Additionally, they recommended Dangote Refinery expand its infrastructure, including building or acquiring depots across Nigeria to improve product accessibility.
How Lucrative Is Fashion Designing?
