The federal government has disclosed that the Nigerian National Petroleum Corporation Limited (NNPCL) will commence the sale of crude oil in Naira with 385,000 barrels per day, to Dangote Refinery from October 1, 2024.
The Presidential Committee on the Sale of Crude Oil and Refined Product disclosed this on Friday while confirming that the lifting of Premium Motor Spirit (PMS), also known as petrol from the 650,000 barrels per day Dangote Refinery will commence on Sunday, September 15.
One of its members and Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, while briefing journalists in Abuja, said the nation’s oil company will, from October 1st, commence crude oil supply to be paid in Naira.
“From 1 October, NNPC will commence the supply of about 385kbpd of crude oil to the Dangote Refinery to be paid for in Naira
“In return, the Dangote Refinery will supply PMS and diesel of equivalent value to the domestic market to be paid for in Naira.
“Diesel will be sold in Naira by the Dangote Refinery to any interested off-taker. PMS will only be sold to NNPC, NNPC will then sell to various marketers for now. All associated regulatory costs will also be paid for in Naira,” the FIRS boss said.
According to him, all agreements have been concluded with the Dangote, saying the first batch of petrol would be loaded from the refinery from Sunday, September 15.
Tribune Online reports that the Independent Petroleum Marketers Association of Nigeria (IPMAN), on Tuesday, disclosed that it may continue importing petrol into the country amidst uncertainties surrounding the pricing of the products from Dangote Refinery.
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