The Nigerian government has officially allowed petroleum marketers to buy Premium Motor Spirit (Petrol) directly from Dangote Refinery. This announcement, made by Minister of Finance Wale Edun and the Chairman of the Naira-Crude Sale Implementation Committee, marks the end of the Nigerian National Petroleum Company Limited (NNPCL) being the sole off-taker of Dangote petrol.
The decision emerged from a meeting of the Implementation Committee on the Sales of Crude Oil and Refined Products in Naira held on Thursday. The government emphasized its commitment to increasing local production of petrol, stating that this transition aims to enhance market efficiency and stabilize fuel availability for Nigerians.
In the statement, the Committee acknowledged the need for clarity regarding the change in market structure and pledged to engage with stakeholders to ensure a smooth transition.
This development follows NNPCL’s recent increase in fuel pump prices, which rose to N1030 per liter in Abuja. The Independent Petroleum Marketers Association of Nigeria had previously rejected NNPCL’s petrol ex-depot price of N1010 per liter, and the Nigeria Labour Congress has also called for a reversal of the recent price hike.
