The Nigeria National Petroleum Company Limited (NNPCL) has said it would supply 17.8 million barrels of crude oil to Dangote Refinery between September to November.
NNPCL Vice President, Downstream, Mr. Adedapo Segun, said the “17.8 million barrels of crude oil is part of the Federal Government’s push to drive local production of petroleum products.”
A statement by Senior Special Assistant to President Bola Tinubu on Media, Temitope Ajayi, on Thursday morning, stated that NNPC has so far supplied 30 million barrels of crude to the refinery to start its operation.
“Dangote Refinery announced early in the week, at a press briefing addressed by its Group Chief Executive, Aliko Dangote, that it is now ready to release its PMS to the market.
“According to Mr. Adedapo, 6.8m barrels in 7 cargoes of crude oil will be delivered to Dangote Refinery in September, while another 11 million barrels will be delivered in November.
“The VP Downstream further revealed why NNPCL is the sole importer of PMS in the country, noting that market conditions have not made it possible for independent marketers to bring in products as a result of forex illiquidity and pump price that is far below landing cost,” Ajayi wrote.
The statement added that Dangote Refinery would also sell its petrol to independent marketers who meet stipulated conditions and not only NNPCL.
“Contrary to media reports that Dangote Refinery will only sell products to NNPCL as sole off taker, Mr. Adedapo said that Dangote will sell products to other marketers once the market conditions are right for them to play, adding that NNPCL for now will act in public interest as provider of last resort as provided for in the Petroleum Industry Act,” the statement on his X handle concluded.