Tinubu's aide reacts as FG announces date NNPCL will start buying petrol from Dangote Refinery

• The Nigerian government has finalised an agreement to supply crude oil to Dangote Refinery and other local refineries in Naira, with the NNPCL as the sole off-taker of the produced petrol
• Starting October 1, 2024, NNPCL will supply 385,000 barrels of crude oil per day to the Dangote Refinery
• Presidential aide Dada Olusegun welcomed the development, stating it will bring relief to Nigerians

State House, Abuja - Presidential aide Dada Olusegun has reacted as the federal government finalised the deal to supply crude to Dangote Refinery and other local refineries in Naira.

The Nigerian government earlier confirmed Sunday, September 15, 2024, as the date the Dangote Refinery will begin distributing petrol.

The agreement was finalised on Friday, September 13, with the Nigerian National Petroleum Company Limited (NNPCL) as the sole off-taker of petrol produced by the Dangote Refinery. Other marketers are to purchase the product directly from NNPCL.

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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) and 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 in Naira beginning October 1, 2024.

“All agreements have been completed, and loading of the first batch of Premium Motor Spirit (PMS) from the Dangote Refinery will commence on Sunday, September 15," the FIRS boss said.

Relief for Nigerians, says Olusegun

Reacting to Adedeji's announcement, Olusegun, an assistant to President Bola Tinubu on social media, said the development will bring relief to Nigerians.

"Relief for Nigerians as the deal to supply crude to Dangote Refinery and other local refineries in Naira has been finalized," he posted on X.

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“It’s Counterproductive:” Marketers petition Tinubu over Dangote’s plan to crash fuel prices

"NNPC to kickstart of take off fuel from Dangote refinery tomorrow!"

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