The Presidential Committee on the Sale of Crude Oil and Refined Products has announced that the first batch of petrol from the Dangote Refinery will begin loading on Sunday, September 15.
This was revealed by Zacch Adedeji, a committee member and Chairman of the Federal Inland Revenue Service (FIRS), during a press briefing in Abuja on Friday.
Adedeji shared that starting October 1, the Nigerian National Petroleum Company Limited (NNPCL) will supply approximately 385,000 barrels per day (kbpd) of crude oil to the Dangote Refinery, which will be paid for in Naira.
“I’m pleased to announce that all agreements have been finalized, and loading of the first batch of PMS from the Dangote Refinery will begin on Sunday, September 15,” Adedeji said.
He further explained that in exchange, the Dangote Refinery will supply petrol and diesel of equivalent value to the domestic market, also to be paid for in Naira.
Additionally, the committee decided that the Dangote Refinery will sell diesel in Naira to any interested buyers, while petrol (PMS) will only be sold to NNPC.
“From October 1, NNPC will begin supplying about 385,000 barrels of crude oil per day to the Dangote Refinery, to be paid for in Naira,” he said.
“In return, the refinery will provide PMS and diesel of equivalent value to the local market, also in Naira. Diesel will be available to any interested off-taker, while PMS will only be sold to NNPC, which will then distribute it to various marketers. All associated regulatory costs will also be paid in Naira.”