Marketers to Buy Petrol Directly from Dangote Refinery

Petroleum marketers now have the freedom to buy products directly from the Dangote Refinery in Lagos, following a new decision announced by the government.

This change was confirmed during a technical committee meeting led by Mr Wale Edun, the Minister of Finance and Coordinating Minister of the Economy. The announcement came from a statement released by the ministry in Abuja today.

Previously, the Nigerian National Petroleum Company Limited (NNPCL) was the only entity authorised to buy products from Dangote Refinery.

During the committee’s review meeting on October 10, 2024, key topics such as the transition to this new market structure and the changes in the purchasing model for marketers were discussed.

Highlights of the New Direct Purchase Model

– Marketers can now negotiate directly with refineries like Dangote, bypassing the previous necessity to go through NNPCL. This aims to improve the supply chain and market conditions.

– With the start of local production of PMS, the market is poised to support these direct transactions more effectively, which is anticipated to stabilise prices and improve product availability for Nigerians.