NNPC trucks start loading at Dangote refinery
Trucks at the Dangote Refinery in the Ibeju-Lekki area of Lagos State began lifting Premium Motor Spirit, also known as petrol, on Sunday.On Sunday, the Dangote Group's X account posted a video revealing this.
This represents a significant milestone in the refinery's operations.
The message included the following: "First set of trucks set for loading of PMS at the Dangote Petroleum Refinery."
It was previously reported that the national oil company said in a tweet on Saturday that hundreds of trucks would be sent to the refinery today (Sunday) for PMS loading.
The NNPC stated, "In preparation for the Dangote Refinery's scheduled petrol loading on Sunday, September 15, 2024, NNPC Ltd has been mobilising trucks to the refinery's fuel loading gantry in Ibeju-Lekki. As of Saturday afternoon, NNPC Ltd had deployed over 100 trucks, with hundreds more on the way.
Recall that NNPC stated last week that it was not the sole off-taker of Dangote refinery products, and that the refinery was free to sell its petrol to any marketer of its choice.
However, a week after the statement, Wale Edun, Minister of Finance and Coordinating Minister of the Economy, stated that interested marketers would have to purchase the product from the national oil company through its trading subsidiary.
He stated, "I am pleased to announce that all agreements have been finalised, and the loading of the first batch of PMS, as previously announced by NNPC, will begin on Sunday, September 15, 2024. And, beginning October 1, NNPC will supply crude oil to the Dangote refinery for payment in naira.
"In exchange, Dangote refinery will supply PMS and diesel of equivalent value to the domestic market for a fee in naira. However, PMS will be sold exclusively to NNPC for the time being. "NNPC will then sell to a variety of marketers."
Meanwhile, marketers have called for direct access to PMS from the Dangote Refinery, criticising the NNPC's market dominance. They argue that having greater access to the refinery's output would boost competition and market efficiency.
Leave A Comment