Dangote to begin supplying fuel today 

By Stephen Asaba-ase

The Federal Government of Nigeria and Dangote Refinery have reached an agreement on petrol supply, pricing, and lifting, which will commence on September 15, 2024.

The agreements are as follows

– NNPC will be the sole off-taker of petrol from Dangote Refinery, with other marketers getting the product from NNPC.

– Dangote Refinery will supply PMS and diesel of equivalent value to the domestic market, paid for in Naira.

– NNPC will supply 385,000 barrels of crude oil to Dangote Refinery starting October 1, 2024, paid for in Naira.

– Diesel will be sold in Naira by Dangote Refinery to any interested off-taker, while PMS will only be sold to NNPC.

– Associated regulatory costs will also be paid for in Naira.

This agreement aims to ease the acute shortage of petrol across Nigeria and allow the government to continue paying subsidies on the product.