The Federal Government has granted petroleum marketers permission to lift petrol directly from the Dangote Refinery, bypassing the Nigerian National Petroleum Company (NNPC).
This confirms that NNPC will no longer be the sole off-taker of Dangote fuel.
In a statement on Friday, Finance Minister Wale Edun, who chairs the Naira-crude sale implementation committee, announced that the directive aligns with efforts to establish a market framework for crude oil and refined products to be sold in naira.
“With this mechanism now in full operation, along with the commencement of local production, we are well-positioned to transition to a fully deregulated market for all petroleum products.
“Moving forward, petroleum product marketers are now able to purchase PMS directly from local refineries without the intermediary role of NNPC. Marketers are encouraged to initiate direct purchases from refineries on mutually negotiated commercial terms, which will promote competition and improve market efficiency,” the statement said.
Edun noted that the government remained confident that, in the long term, these measures will create better market conditions for the benefit of all Nigerians.
