NNPC Reacts to Alleged Plan to Cut Crude Supply to Dangote as Marketers Seal Deal With Refinery
- Oil marketers said they have signed a deal with the Dangote Refinery to distribute and sell its petrol nationwide
- The national president of the Petroleum Products Retail Outlet Owners Association of Nigeria said the deal will end price disparity in filling stations
- PETROAN said it has set up an executive council in Lagos to ensure that the deal is achieved without hassles
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Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) said it has inked a deal to begin distributing Dangote petrol.
The national president of PETROAN, Billy Gillis-Harry, confirmed this on Tuesday, January 28, 2025.
Source: UGC
PETROAN to sell and distribute Dangote petrol
The PETROAN boss said the association will now begin the sale and distribution of Dangote Refinery’s petrol and the agreement will end price differences at filling stations.
Gillis-Harry said the refinery sealed a partnership with MRS Oil for bigger and more efficient petroleum distribution nationwide.
According to him, by this deal, Nigerians will get the best value for money for PMS product purchases, ending the price disparity in the market.
He described the deal as a show of love from the 650,000 bpd-capacity refinery in partnership with the association, urging Nigerians to hope for better days.
PETROAN also disclosed in a statement, commending the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for issuing gas distribution and import licenses to the first batch of accredited marketers including NGML, NIPCO, AXXELA, FALCON, and SNG.
The firms were asked to use the licenses to ensure President Bola Tinubu’s gas expansion policy is achieved by ensuring seamless gas distribution.
The statement disclosed that PETROAN set up its Lagos State Executive Council to prepare for the task.
He said the council would ensure that adulteration, illegal metering adjustments, victimisation of retail outlet owners by agencies, and petroleum product hoarding end.
NNPC denies plans to reduce crude supply to Dangote
Meanwhile, the Nigerian National Petroleum Company Limited (NNPC) has denied reports that it wants to reduce crude oil supply to the Dangote Refinery due to pressure from other refiners.
Responding to Legit.ng, NNPC spokesman, Olufemi Soneye, called the report false, saying he is not aware of any such plans.
“I am not aware of any such plans by the NNPC Ltd to cut crude oil supply to the Dangote Refinery. Hence, this allegation is false,” Soneye said.
Dangote to import crude oil from the US
The development comes as the Lekki-based refinery awaits a shipment of 12 million barrels of crude oil from the US.
Reports say the crude cargo will arrive in February as the facility moves to reach full refining capacity in June this year.
Currently, the refinery reportedly produces 500,000 barrels daily of petroleum products.
NNPC releases new petrol prices for Lagos, Abuja
Legit.ng earlier reported that in Lagos and Abuja, retail filling stations owned by the Nigerian National Petroleum Company Limited (NNPC) have increased the pump price of petrol from N965 to N990.
The national oil company also hiked their prices in Lagos from N925 to N960 per litre.
The development comes amid a slight decline in crude oil prices in the international market.
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Source: Legit.ng
