THE Nigerian National Petroleum Company Limited (NNPCL) has revealed that Dangote Refinery sold fuel to them at N898 per litre.
Note that NNPCL began loading on Sunday, after moving about 300 trucks to the 650,000-capacity refinery in Lagos. But their spokesman, Olufemi Soneye, has now clarified the price at which they bought it.
“We successfully loaded PMS at the Dangote Refinery today (Sunday). The claim that we purchased it at N760 per litre is incorrect. For this initial loading, the price from the refinery was N898 per litre,” Soneye said.
At least, over 70 trucks have been loaded so far. Industry insiders had earlier said that the Dangote refinery would supply petrol to the NNPC at N766 per litre.
This reduced price they attributed to the deal between NNPC and Dangote, where crude oil is supplied to the refinery in naira.
Finance Minister and Coordinating Minister of the Economy, Wale Edun, previously announced that NNPC would be the exclusive off-taker of refined petrol from the Dangote refinery.
At a recent Technical Sub-Committee meeting on crude oil sales to local refineries, Edun, represented by Federal Inland Revenue Service Chairman, Zaccheus Adedeji, confirmed that diesel from the Dangote refinery would be sold in Naira to any interested off-taker.
However, petrol will be sold exclusively to NNPC, which will then distribute it to various marketers.
Adedeji also revealed that all agreements and arrangements for the sale of crude oil to local refineries in Naira and the purchase of petroleum products in the same currency have been finalised, following the Federal Executive Council’s approval.
