NNPC BUYS PETROL FROM DANGOTE REFINERY AT N766/litre

 

Às NNPC mobilise 300 trucks to lift PMS from the Dangote refinery today.

The Dangote refinery intends to sell its petrol at N766 to the NNPC.

Multiple sources from the Federal Ministry of Petroleum Resources, NNPC, and major energy marketers confirmed that the deal to supply crude to the Dangote refinery in naira was a key factor that led to the PMS price.

A major marketer disclosed the ongoing deal between NNPC and Dangote is similar to the DSDP (Direct Sale of crude oil and Direct Purchase of petroleum products) transactions that used to exist between NNPC and foreign refineries in the past.

“And this has really impacted positively on the price of petrol that Dangote is selling to NNPC at N766/litre. Which is going to be higher when NNPC sells to  major marketers

Reacting to the Dangote fuel price, a senior IPMAN official said if marketers could get the product at N766, they would need to add the cost of transportation, levies, and other margins

He said, “Give and take, they can sell at N790 in Lagos. In the far north, it may be N820 per litre because of the distance.”

Gillis-Harry,National President of the Petroleum Products Retail Outlets Association of Nigeria
however, said his group was not aware of the price of fuel from the Dangote refinery.

“Well, it will be acceptable because now we are paying NNPC N870 for a litre, so if we see it at N766, it is cheaper, and we would prefer to buy that.

We can not determine how much we will sell to Nigerians; we will work out the retail price. It is not one individual or one organisation’s prerogative to put a price. We will work it out, and we will argue out our point.

“We are ready to support Dangote, but they are not talking to us. We are the people they need; we have over 6,000 retail outlets under my management, but Dangote is not talking to us”, he added.

 

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