The Nigerian National Petroleum Company Limited (NNPCL) has confirmed purchasing petrol from Dangote Refinery at N898 per litre, significantly higher than anticipated. This announcement was made by NNPCL spokesperson Olufemi Soneye on Sunday, September 15, 2024, countering earlier reports that suggested a price of N760 per litre.
The Dangote Refinery, which has a production capacity of 650,000 barrels per day, began loading petroleum for NNPCL on the same day, with over 300 trucks dispatched for distribution. This marks the refinery’s official entry into the local fuel supply market, raising hopes for better fuel availability but disappointing many who expected lower prices from the locally produced fuel.
Soneye clarified that the N898 per litre price applies to the initial loading, which is higher than the N855 per litre price set at NNPC retail stations earlier in September. The federal government had designated NNPCL as the sole distributor of petrol from the Dangote Refinery, ruling out direct sales to other marketers.
While Nigerians had hoped the opening of the Dangote Refinery would lead to more affordable petrol, the current pricing has raised concerns about the potential impact on the economy and fuel costs for consumers. Despite the higher-than-expected price, the refinery is expected to supply 25 million litres of petrol daily in September, with plans to increase output to 30 million litres per day in October.
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