NNPC Continues As Sole Purchaser Of Dangote Fuel, According To Marketers

NNPC Continues As Sole Purchaser Of Dangote Fuel, According To MarketersThe Nigerian National Petroleum Company Limited (NNPC) remains the exclusive off-taker of Premium Motor Spirit (PMS), commonly known as petrol, from the Dangote Petroleum Refinery. This continues despite a recent directive from the Federal Government allowing other oil marketers to begin loading petrol directly from the refinery.

Oil marketers disclosed on Wednesday that NNPC will maintain its sole off-taker status until its agreement with the Dangote refinery regarding the lifting of PMS expires. However, no information was provided on when this agreement might conclude, and neither NNPC nor Dangote refinery officials responded to inquiries about its duration.

On October 11, 2024, the Federal Government announced that oil marketers were now permitted to negotiate the purchase of petrol directly from local refineries, eliminating the need for NNPC as an intermediary. The finance ministry’s statement emphasized that this change aims to foster competition and enhance market efficiency.

However, after meeting with Dangote refinery officials on October 15, members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) confirmed that NNPC still holds the exclusive off-taker role until the existing agreement is terminated. Dele Tajudeen, Zonal Chairman for IPMAN’s South-West region, stated that discussions with Dangote’s Vice President revealed that while the refinery is ready to sell to registered marketers, the ongoing agreement with NNPC must first be addressed.

IPMAN’s notice urged members to register promptly, as only those officially registered would benefit from future opportunities to purchase from Dangote refinery.

Major oil marketers indicated that they continue to lift products from Dangote refinery through the existing deal with NNPC, with one dealer noting that their transactions are conducted under the terms of this agreement. Both NNPC and Dangote refinery did not comment on the situation when contacted.

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