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BREAKING: Marketers Now Allowed To Lift Fuel Directly From Dangote Refinery

Published

2 months ago

Oct 11, 2024.

The Federal Government has officially granted petroleum marketers the authority to lift petrol directly from the Dangote refinery, effectively bypassing the Nigerian National Petroleum Company Limited (NNPC) and ending its monopoly as the sole distributor of Dangote’s refined fuel.

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EKO HOT BLOG reports that in a statement released on Friday, Finance Minister Wale Edun, who also chairs the Naira-Crude Sale Implementation Committee, highlighted the significant impact of this decision on the industry.

He emphasized that the move opens up the market for more competitive pricing and enhances supply chain dynamics.

During a review meeting held on October 10, Edun confirmed that the new policy allows petroleum marketers to engage directly with the Dangote refinery for fuel procurement, eliminating the need for NNPC’s intermediary role.

The Federal Government has authorized petroleum marketers to lift petrol directly from the Dangote refinery, ending NNPC's monopoly and promoting competition in the petroleum market.Marketers Lift Fuel Dangote Refinery

Marketers Lift Fuel Dangote Refinery

He stated, “Marketers can now purchase PMS directly from refineries on commercial terms, fostering competition and improving market efficiency.”

Edun further reiterated the government’s long-term vision of transitioning to a fully deregulated petroleum market. He added that this shift aims to benefit Nigerians by improving the availability and pricing of fuel products, ultimately creating a more efficient and competitive market environment.