NNPC quits monopoly role in Dangote petrol

Oct. 7, 2024 - Businessday

The Nigerian National Petroleum Company Limited (NNPC) is ending its exclusive purchasing deal with Dangote Refinery, paving the way for other fuel marketers to source petrol directly from the facility. Sources with knowledge of the matter told Premium Times that NNPC will no longer act as the sole off-taker, a move designed to promote competition and improve supply chain stability.

Marketers can now negotiate prices directly with Dangote Refinery based on market conditions, rather than relying on NNPC as the intermediary. Read also: NNPC: From monopoly to monopsonyAn NNPC official confirmed the development to Premium Times on Monday, saying, “Yes, it is true.

The NNPC announced that it would buy petrol from Dangote Refiner at N898.78 per litre and sell to marketers at N765.

99 per litre, shouldering a subsidy of almost N133 per litre...