Business

See the Amount Nigerians May Buy Dangote Petrol Per Litre

Published by Tope Fakinlede on September 15th, 2024.

See the Amount Nigerians May Buy Dangote Petrol Per Litre

Nigerians might soon have access to more affordable Premium Motor Spirit (PMS), with reports indicating that Dangote petrol could be priced between N857 and N865 per litre.

Aliko Dangote

The Nigerian National Petroleum Corporation Limited (NNPCL) is set to begin transporting petrol from Dangote Refinery today, pending any unexpected delays. NNPCL has agreed to purchase the petrol at N960 to N980 per litre and sell it to marketers at N840 to N850. However, it remains uncertain whether these prices will be consistent across all filling stations nationwide.

Olufemi Soneye, Chief Corporate Communications Officer for NNPC Ltd., confirmed to Sunday Vanguard that preparations are underway to start lifting petrol from the refinery. He stated, “NNPC Ltd has deployed trucks and vessels to Dangote Refinery for the scheduled lifting on September 15th. Our trucks and personnel are on-site, and we anticipate additional trucks arriving throughout the weekend.”

Soneye noted that around 100 trucks have already reached the refinery, with the number expected to increase to 300 by Saturday evening.

Olufemi Adewole, Executive Secretary of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), mentioned that while they have been handling diesel and aviation fuel, they are now preparing to manage petrol. He emphasized the need for clarity on pricing, which will be crucial for meeting the energy needs of Nigerians.

Finance Minister Wale Edun, in a recent statement, highlighted that the arrangement for purchasing crude and petroleum products in Naira aims to ease pressure on the local currency and cut transaction costs. According to Mohammed Manga, Director of Information and Public Relations in the ministry, this initiative represents a significant step toward stabilizing the Naira and enhancing the availability of petroleum products.