Dangote Petroleum Refinery don start dey sell petrol, wey dem dey call Premium Motor Spirit (PMS), directly to oil marketers without passing through Nigerian National Petroleum Company Limited (NNPC). Dis development come after Federal Government announce say marketers fit buy petrol directly from local refineries on willing-buyer, willing-seller basis.
According to sources from Dangote Refinery, marketers dey come to de refinery to lift PMS directly. One senior official at de refinery confirm say, “Marketers are already coming to de refinery to lift PMS. They are lifting directly from de refinery, not through a third party.” De official also mention say de refinery de focus on producing 53 per cent of its crude oil for petrol, due to high demand for petrol in Nigeria and other countries.
De naira-for-crude sale agreement between Dangote Refinery and NNPC also play significant role here. Dangote Refinery don receive four cargoes of crude oil from NNPC under dis agreement, and dem expect more cargoes in de coming weeks. Dis deal mean say NNPC go supply about 385,000 barrels per day of crude oil to Dangote Refinery, which dem go pay for in naira.
Chinedu Ukadike, National Publicity Secretary of Independent Petroleum Marketers Association of Nigeria, praise de move, saying it go help address complaints of shortfall in PMS supply. He say, “It is a very good gesture to allow Dangote to get enough crude to be able to refine petroleum products for us.” Ukadike also mention say demand and supply go determine de price of PMS as time go by.
De direct sale of petrol from Dangote Refinery to marketers dey seen as way to promote competition and improve market efficiency. Minister of Finance, Wale Edun, who head de Technical Subcommittee on Domestic Sale of Crude Oil in Local Currency, say dis move go help de market.
