The Nigerian National Petroleum Company Limited (NNPC) has disclosed that it purchased Premium Motor Spirit (PMS), commonly known as petrol, from the Dangote refinery at a rate of N898 per litre.
This follows the recent commencement of petrol lifting from the 650,000 barrels-per-day refinery, which began on Sunday.
According to reports, over 300 trucks from the NNPC arrived at the refinery in Ibeju-Lekki, Lagos State, to collect the initial batch of petrol.
NNPC spokesman Olufemi Soneye clarified that contrary to earlier claims, the price paid for the petrol was not N760 per litre.
Soneye stated, “We successfully loaded PMS at the Dangote refinery today. The claim that we purchased it at N760 per litre is incorrect. For this initial loading, the price from the refinery was N898 per litre.”
As of the latest update, over 70 trucks had been loaded with petrol from the refinery.
Finance Minister and Coordinating Minister of the Economy, Wale Edun, previously announced that NNPC would be the exclusive off-taker of refined petrol from the Dangote refinery.
At a recent Technical Sub-Committee meeting on crude oil sales to local refineries, Edun, represented by Federal Inland Revenue Service Chairman Zaccheus Adedeji, confirmed that diesel from the Dangote refinery would be sold in Naira to any interested off-taker.
However, petrol will be sold exclusively to NNPC, which will then distribute it to various marketers.
Adedeji also revealed that all agreements and arrangements for the sale of crude oil to local refineries in Naira and the purchase of petroleum products in the same currency have been finalized, following the Federal Executive Council’s approval.
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