Marketers Get Permit To Lift Fuel Directly From Dangote Refinery

Petroleum marketers are now able to begin taking gasoline straight from the Dangote refinery thanks to approval from the federal government.

On Friday, October 11, this consent was provided through a statement signed by Wale Edun, the Chairman of the Naira-Crude Sale Implementation Committee and Minister of Finance.

Edun provided an update on the growth of product sales and crude procurement in naira transactions.

“The Implementation Committee chaired by Edun was said to have held its second post-commencement review meeting on October 10, to evaluate the progress of the Crude Oil and Refined Products Sales in naira initiative.

“The committee is pleased to report a successful transition of operations in line with the directive issued by the Federal Executive Council. This directive has established a robust framework for local production and distribution of crude oil and refined products for local consumption in naira.

“With this mechanism now in full operation, along with the commencement of local production, we are well-positioned to transition to a fully deregulated market for all petroleum products.

“Moving forward, petroleum product marketers are now able to purchase PMS directly from local refineries without the intermediary role of NNPC. Marketers are encouraged to initiate direct purchases from refineries on mutually negotiated commercial terms, which will promote competition and improve market efficiency,” the statement said.

Prior to this event, NNPCL served as a liaison between marketers and Dangote refineries until last week, when it opted out of the arrangement.

A Gentle Reminder: Every obstacle is a stepping stone, every morning; a chance to go again, and those little steps take you closer to your dream.

Nnamdi Okoli