ABUJA—The Nigerian National Petroleum Company Limited (NNPCL) has reportedly relinquished its role as the sole buyer of Premium Motor Spirit (PMS), commonly known as petrol, from Dangote Refinery. This development, revealed in a Premium Times report on Monday, signals a significant shift in Nigeria’s fuel supply chain.
As a result of the move, petroleum marketers will now be required to purchase petrol directly from Dangote Refinery, rather than through NNPCL.
Efforts to reach NNPCL’s spokesperson, Olufemi Soneye, for comment were unsuccessful. When contacted, he did not respond to calls or text messages.
Meanwhile, Dangote Refinery’s spokesperson, Anthony Chiejina, offered a brief response, stating, “I’ll call you back,” but no further comments were provided as of the time of reporting.
An anonymous NNPCL official reportedly confirmed the change, telling Premium Times, “Yes, it is true. We can no longer continue to bear that burden.”
This development comes just weeks after NNPCL lifted petrol from Dangote Refinery on September 15, 2024, which led to an increase in petrol prices across the country. In the Federal Capital Territory, Abuja, prices surged to between N950 and N1,100 per liter following the delivery.
The decision to step down as the sole off-taker of Dangote petrol has sparked concerns over a potential new hike in fuel prices. The move follows earlier recommendations from the House of Representatives for Dangote Refinery to sell petrol directly to oil marketers, a suggestion that appears to have gained traction.
Adding to the fuel market dynamics, the Nigerian government recently announced it had begun selling crude oil to Dangote Refinery in Naira, a measure which some industry stakeholders had hoped would lead to a reduction in fuel prices. However, with NNPCL’s exit as the sole buyer, the market remains uncertain about the future pricing of petrol in Nigeria.
