Date Set: FG Confirms Start Of Petrol Sales At Dangote Refinery

Date Set: FG Confirms Start Of Petrol Sales At Dangote Refinery

The Federal Government has officially announced that the Dangote Refinery will commence petrol sales to the Nigerian market on Sunday, September 15. The confirmation came during a press conference on Friday by Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), representing Wale Edun, the Minister of Finance and Coordinating Minister of the Economy. Edun, who also chairs the presidential committee overseeing the sales of crude oil and refined products for domestic use, was unable to attend.

Adedeji indicated that all preparations for the first batch of petrol from Dangote Refinery have been finalized. Initially, the refinery will only supply petrol to the Nigerian National Petroleum Company Limited (NNPCL). Other marketers will source their petrol from the NNPC.

“We are pleased to announce that all agreements have been finalized and loading of the first batch of PMS, as previously announced by NNPC, will start on Sunday, September 15, 2024,” Adedeji said. “Starting October 1, NNPC will begin supplying crude oil to Dangote Refinery, which will be paid for in naira. In return, Dangote Refinery will provide PMS and diesel of equivalent value to the domestic market, also paid for in naira.”

Adedeji clarified that initially, PMS will be sold only to NNPC, which will then distribute it to various marketers.

The Minister of Finance later confirmed Adedeji’s statements, emphasizing that all relevant security and regulatory agencies will be involved to ensure a smooth rollout.

“We are establishing a one-stop shop at the Nigerian Ports Authority (NPA) in Lagos to coordinate the services of all regulatory and security agencies, as well as other stakeholders, to ensure the successful implementation of this initiative,” Edun said.

The technical committee that developed this initiative will transition to an implementation and monitoring committee based in Lagos for the next three to six months. Edun acknowledged the efforts of the technical committee and expressed gratitude to President Muhammadu Buhari for his leadership in this project.

“This milestone marks a significant step towards Nigeria’s energy self-sufficiency and economic growth,” Edun added. “We thank everyone for their hard work and patriotism and assure the President that his vision will be realized.”