From October 1, 2024, de Federal Government don start de sale of crude oil to Dangote Refinery in naira, and dis move don receive de first supply already. According to sources, Dangote Refinery don receive four cargoes of crude oil from de Nigerian National Petroleum Company Limited (NNPCL) under de naira-for-crude sale agreement.
De crude oil, which amount to about 385,000 barrels per day, dey supposed to be paid for in naira. Dis initiative na part of de Federal Executive Council‘s proposal to sell crude to local refineries in naira, using Dangote Refinery as de pilot project.
De Technical Subcommittee on Domestic Sale of Crude Oil in Local Currency confirm say more cargoes of crude oil go dey delivered to Dangote Refinery in de coming weeks. De first phase of dis naira-crude sale agreement go last for six months, unless de Federal Government renew am.
However, despite dis positive development, Dangote Refinery still dey face challenges in meeting de supply request from NNPCL. A document from NNPCL show say Dangote Refinery no meet de expected volume of petrol supply between September 15 and October 20. Dem supply only 317 million litres out of de 1.065 billion litres requested.
De Independent Petroleum Marketers Association of Nigeria (IPMAN) welcome dis move, saying it go help address de shortfall in PMS supply. Chinedu Ukadike, de National Publicity Secretary of IPMAN, say dat with enough crude supply to Dangote Refinery, dem go produce enough refined products to meet market demand.
