The Dangote Petroleum Refinery has started supplying Premium Motor Spirit, PMS, also known as petrol, directly to oil marketers, bypassing the Nigerian National Petroleum Company Limited, NNPCL.
Many marketers are rushing to secure direct purchases from the refinery, while others are relying on imported fuel supplies. Reports indicate that over 123 million liters of imported PMS have already arrived at Nigerian ports between October 18 and 20, aiming to boost fuel availability across the nation.
In a related development, the Transmission Company of Nigeria, TCN, is working to repair a faulty 330kV transmission line in Igumale, which caused a power outage affecting parts of northern Nigeria. The outage, which occurred on October 21 due to a snapped transmission line, impacted the North East, North West, and parts of North Central Nigeria. TCN teams are mobilizing heavy equipment to the swampy terrain to restore power, with officials thanking affected residents for their patience during the ongoing repairs.
Credible News recalls that the Federal Government had granted permission to petroleum marketers to lift petrol directly from the Dangote Refinery without going through the NNPCL.
READ ALSO : FG grants marketers permission to source fuel directly from Dangote Refinery
It further confirmed the speculation that the NNPCL will no longer be the sole off-taker of the Dangote fuel. In a statement on Friday, the Minister of Finance and Chairman of the Naira-crude sale implementation committee, Wale Edun, gave an update on the takeoff of crude purchase and product sales in naira transactions.
The Implementation Committee chaired by Edun was said to have held its second post-commencement review meeting on October 10, to evaluate the progress of the Crude Oil and Refined Products Sales in naira initiative.
“The committee is pleased to report a successful transition of operations in line with the directive issued by the Federal Executive Council. This directive has established a robust framework for local production and distribution of crude oil and refined products for local consumption in naira.
“With this mechanism now in full operation, along with the commencement of local production, we are well-positioned to transition to a fully deregulated market for all petroleum products.
“Moving forward, petroleum product marketers are now able to purchase PMS directly from local refineries without the intermediary role of NNPC. Marketers are encouraged to initiate direct purchases from refineries on mutually negotiated commercial terms, which will promote competition and improve market efficiency,” the statement said.
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