THE NNPC ltd., a dynamic global energy company with businesses and operations across the entire spectrum of the energy value chain, has positioned itself to lift petrol from the $20 billion Dangote Refinery today, September 15, 2024.

As the sole offtaker of the refinery’s petrol, NNPC Ltd. has already deployed many trucks and vessels for the historic lifting of the product.

NNPC Ltd. would lift the product from Dangote refinery at between N960 and N980 per litre and deliver it to oil marketers at between N840 and N850 per litre.

Chief Corporate Communications Officer, NNPC Ltd., Olufemi Soneye, said: “NNPC Ltd has started deploying our trucks and vessels to the Dangote Refinery to lift PMS, in preparation for the scheduled lifting date of September 15th, as set by the refinery.

“Our trucks and personnel are already on-site, ready to begin lifting. We are expecting more trucks, and the deployment will continue throughout the weekend so we can start loading as soon as the refinery begins operations on September 15, 2024.”

On his part, Executive Secretary, Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Olufemi Adewole, said: “We have been lifting diesel (AGO) and aviation fuel (Jet fuel) and we look forward lifting petrol (PMS).

“We await clarity in respect of the pricing mode and once that is clarified, we’ll do the needful towards meeting the energy needs of Nigerians.”

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, had said the structuring of the deal in Naira would go a long way in assisting the nation  to reduce pressure on the local currency.

In a statement obtained by The Daily, the Director, Information and Public Relations, Mohammed Manga, had stated: “In a landmark move towards reducing pressure on the Naira, eliminating unnecessary transaction costs, and improving availability of petroleum products, the Federal Government has successfully initiated the sale of crude to local refineries as well as corresponding purchase of petroleum products in Naira.

“The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, disclosed this today in his office in Abuja shortly after the Technical Sub-Committee meeting on the sale of crude oil to local refineries in Naira.

“Represented by the Executive Chairman Federal Inland Revenue Service (FIRS) Dr Zacch Adedeji, the Minister announced the completion of all agreements and modalities for the implementation of the Federal Executive Council (FEC) approval on the sale of crude to local refineries in Naira and corresponding purchase of petroleum products in Naira.

“Recall that the FEC under the leadership of Mr. President approved the sale of crude to local refineries in Naira and corresponding purchase of petroleum products in Naira.

“This initiative will help reduce pressure on the Naira, eliminate unnecessary transaction costs, and improve availability of petroleum products in the country.

“Since then, the implementation committee chaired by the Hon. Minister of Finance and the technical committee have worked intensely with NNPCL and Dangote Refinery to fashion out the details of the modalities for the implementation of the FEC approval.

“I am glad to announce that all agreements have been completed and loading of the first batch of PMS from the Dangote Refinery will commence on Sunday 15th September. From 1st October, NNPC will commence the supply of about 385kbpd of crude oil to the Dangote Refinery to be paid for in Naira.”