The Presidential Committee on the Sale of crude oil and Refined Products has announced that loading of the first batch of petrol from the Dangote Refinery will commence on Sunday, September 15, 2024.
In a press briefing held in Abuja on Friday, Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS) and a committee member, revealed the development. He furher stated that, beginning from October 1, the Nigerian National Petroleum Company Limited (NNPCL) would supply 385,000 barrels per day (bpd) of crude oil to the refinery, with payments made in Naira.
Additionally, Adedeji explained that in exchange for the crude supply, the Dangote Refinery would provide petrol (PMS) and diesel of equivalent value for the domestic market, also paid for in Naira.
While diesel would be available for purchase by any off-taker in the local currency, the petrol would be sold exclusively to NNPC, which would then distribute it to various marketers.
All related regulatory costs would be paid for in Naira as well.
