FG, NNPCL, Dangote plan changes in petrol lifting — Investigation

Oct. 8, 2024 - Vanguard

*Implementation Committee meets * It’s good development — marketers*As Dangote Refinery gets 24mb of oil in October, NovemberBy Udeme Akpan, Obas Esiedesa & Ediri EjohPLANS have been reached and advanced by the federal government, Nigerian National Petroleum Company Limited, NNPCL and Dangote Refinery; to make far-reaching changes in Nigeria’s process of lifting and distribution of petrol. Under the current arrangement, the NNPCL allocates crude oil for refining and also undertakes the distribution of petrol to different parts of the nation directly and through the oil marketers and depot owners.

“Also, the subsidy or under-recovery that the NNPCL continues to pay would finally be removed, thus enabling consumers to pay for the whole value of the petrol. The Presidential Committee on the Sale of Crude Oil and Refined Products announced last month that NNPC Limited would commence the supply of 385,000 barrels of crude oil to Dangote Refinery on October 1, 2024.

“Diesel will be sold in Naira by the Dangote Refinery to any interested off-taker...