Photos: Over 100 NNPC trucks storm Dangote Refinery to commence lifting of petrol

• A long queue of petrol tankers yesterday formed along the stretch of the road leading to the Dangote Refinery at Lekki
• The Over 100 NNPC trucks were dispatched to the Dangote Refiner to lift petrol from the refinery
• Also on standby at the refinery’s loading/discharging facility is a vessel –Binta Saleh- for the same purpose.

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends

Nigerian National Petroleum Company Limited has deployed over 100 truck fleet to the Dangote Refinery on Saturday, September 14, ahead of petrol loading.

The development comes as the refinery prepares to start releasing petrol on Sunday, September 15, 2024.

Photos released at the refinery by NNPC showed rows of NNPC-branded tanker trucks positioned along the access roads leading to Africa’s largest oil refinery.

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NNPC, in a message shared on social media, reads:

"In preparation for the Dangote Refinery's scheduled petrol loading on Sunday, September 15, 2024, NNPC Ltd. has been mobilizing trucks to the refinery's fuel loading gantry in Ibeju-Lekki.

"As of Saturday afternoon, NNPC Ltd. had deployed over 100 trucks, with hundreds more en route."

Good news for nigeria

The appearance of the NNPCL trucks signifies a major step in efforts to stabilize Nigeria’s domestic fuel supply.

There have been high expectations surrounding the first petrol shipments from the Dangote Refinery, which are believed to help reduce Nigeria’s reliance on imported fuel—a practice that has long strained the country's economy and foreign exchange reserves.

NNPC, Dangote reach agreement

Legit.ng earlier reported that the Federal Government has confirmed Sunday, September 15, 2024, as the date the Dangote Refinery will begin the distribution of petrol.

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FG says Dangote refinery to sell petrol only to NNPCL, gives reasons

Zacch Adedeji, Chairman of the Federal Inland Revenue Service (FIRS) who is a member of the Presidential Committee on the Sale of Crude Oil and Refined Products, revealed that NNPCL will start supplying 385,000 barrels of crude oil per day to the Dangote Refinery beginning October 1, 2024, in naira.

Adedeji elaborated on the terms of the deal, stating that while the refinery’s diesel will be available for purchase by any interested off-taker, petrol will be sold exclusively to NNPCL, which will then distribute the product to marketers.

His words

“From October 1, NNPCL will begin the supply of approximately 385,000 barrels of crude oil per day to the Dangote Refinery, to be paid for in naira.

“In return, the refinery will supply PMS and diesel of equivalent value to the domestic market, also payable in naira.

"Diesel will be sold in Naira by the Dangote Refinery to any interested off-taker, while PMS will be sold only to NNPCL. NNPCL will then distribute the petrol to various marketers, with all associated regulatory costs also being paid in naira.”

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NNPC sends message to marketers on petrol lifting from Dangote Refinery, set date, pricing

Dangote Refinery accuses oil marketers of low patronage

Earlier, Legit.ng reported that Dangote Refinery raised concerns over the lack of patronage from Nigerian oil marketers due to low pricing strategies on its product sales.

Devakumar Edwin, Vice President of Dangote Industries Limited, disclosed this during an X Spaces session organised by Nairametrics.

According to Edwin, the refinery struggles to sell diesel and aviation fuel daily, so it has decided to export its products instead.

Source: Legit.ng