BREAKING: Nigerian Gov’t Permits Oil Marketers To Bypass NNPC, Lift Petrol Directly From Dangote Refinery

Petroleum marketers tin present straight assistance petrol from Dangote Refinery without the Nigerian National Petroleum Company Limited (NNPC) acting arsenic an intermediary. 

This displacement marks a important alteration successful substance distribution, confirming speculations that NNPC is nary longer the sole off-taker of Dangote Refinery products.

In a connection connected Friday, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who besides chairs the Naira-crude merchantability implementation committee, provided an update connected the ongoing naira-based crude acquisition and merchandise income initiative. 

The committee held its 2nd post-commencement reappraisal gathering connected October 10 to measure the advancement of the initiative.

“The committee is pleased to study a palmy modulation of operations successful enactment with the directive issued by the Federal Executive Council. 

“This directive has established a robust model for section accumulation and organisation of crude lipid and refined products for section depletion successful naira,” the connection said.

“With this mechanics present successful afloat operation, on with the commencement of section production, we are well-positioned to modulation to a afloat deregulated marketplace for each petroleum products,” it added.

Moving forward, Edun’s connection emphasised that “petroleum merchandise marketers are present capable to acquisition PMS straight from section refineries without the intermediary relation of NNPC”. 

“Marketers are encouraged to initiate nonstop purchases from refineries connected mutually negotiated commercialized terms, which volition beforehand contention and amended marketplace efficiency,” the connection said.

This is expected to beforehand contention and heighten marketplace efficiency.

The government, Edun noted, is optimistic that these measures volition pb to a much competitory market, benefiting Nigerians successful the agelong run.