The Dangote Petroleum Refinery has started supplying Premium Motor Spirit (PMS), commonly known as petrol, directly to some oil marketers, bypassing the Nigerian National Petroleum Company (NNPC) Limited. This development has prompted more oil marketers to seek direct purchases from the refinery, while others are importing fuel. Reports indicate that several vessels carrying imported PMS have arrived at Nigerian seaports, with an additional hundreds of millions of litres expected within the next two weeks to bolster national fuel supply.
Earlier reports had confirmed the arrival of four vessels carrying about 123.4 million litres of imported PMS between October 18 and 20, 2024, at two major seaports. This surge in fuel imports comes as oil marketers aim to supplement the supply from the Dangote Refinery, a $20 billion project. Meanwhile, some marketers have already begun lifting PMS directly from the refinery, which is located in Lekki. A senior official at the refinery confirmed that marketers are now conducting direct transactions on a willing-buyer, willing-seller basis, without involving any third party.
According to sources at the refinery, agreements have been reached with several marketers for direct sales, with ongoing discussions to secure more deals. Although the specific price at which PMS is being sold was not disclosed, the refinery official emphasized that marketers would not be purchasing the product if the pricing were not competitive. Additionally, trucks belonging to oil marketers have been seen loading directly from the Dangote plant, further signaling the beginning of direct petrol sales from the refinery.
The recent shift toward direct purchases follows an announcement by the Federal Government’s Technical Subcommittee on Domestic Sale of Crude Oil, which stated that marketers could now lift PMS directly from local refineries, including Dangote. This move is seen as a step towards deregulating the market and improving efficiency. While some industry stakeholders had initially questioned whether the refinery could sell petrol without terminating its contract with the NNPC, officials confirmed that the refinery had begun selling PMS directly to marketers.
- Tags: Dangote refinery, Fuel marketers, Fuel price, NNPC, pMS, Pump price
