The Federal Government has granted permission for petroleum marketers to obtain petrol directly from the Dangote refinery.

Nnpc Dangote RefineryThis will allow them bypass the Nigerian National Petroleum Company Limited (NNPCL).

In a statement issued on Friday, Wale Edun, the Minister of Finance and Chairman of the Naira-Crude Sale Implementation Committee, shared important updates regarding the commencement of crude oil purchases and the transactions involving the sale of products in naira.

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“The committee is pleased to announce a successful transition in operations, aligning with the directive from the Federal Executive Council.

Furthermore, this directive has established a robust framework for the local production and distribution of crude oil and refined products for domestic consumption in naira.

In addition, with this mechanism now fully operational and local production underway, we are well-positioned to shift towards a fully deregulated market for all petroleum products.

Going forward, petroleum marketers can purchase Premium Motor Spirit (PMS) directly from local refineries, eliminating the need for NNPC as an intermediary.

Also Read: Dangote Refinery: Possible Price Of Petrol Across States In Nigeria After NNPC’s Reign Of Monopoly

In addition, we encourage marketers to initiate direct purchases from refineries based on mutually agreed commercial terms, fostering competition and enhancing market efficiency,”

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