Home News FG Approves Direct Fuel Lifting from Dangote Refinery.

FG Approves Direct Fuel Lifting from Dangote Refinery.

by hannah
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The Federal Government has granted authorisation to petroleum marketers to lift premium motor spirit (PMS), commonly known as fuel, directly from the Dangote Refinery, bypassing the Nigerian National Petroleum Company Limited (NNPCL).

This move follows a directive from the Federal Executive Council (FEC) and marks a significant shift in the country’s fuel supply chain.

According to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who chairs the Implementation Committee on the Sales of Crude Oil and Refined Products in Naira, this development is part of a new direct purchase model aimed at fostering a more competitive market and improving product availability.

Edun emphasised that under the new regime, marketers can now negotiate commercial terms directly with local refineries, creating a smoother supply chain for petroleum products.

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“This marks a departure from the previous arrangement where NNPCL was the sole purchaser and distributor of PMS from the refineries,” Edun stated.

He also highlighted that the commencement of local production at the Dangote Refinery will be a game changer for the industry, promising more efficiency and market stability.

In the committee’s October 10 meeting, Edun reiterated the government’s commitment to engaging with stakeholders to ensure a seamless transition, stressing that clarity would be provided on any changes in the market.

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