Abuja, Nigeria – The Bureau Newspaper has gathered that the Dangote refinery will supply petrol to the Nigerian National Petroleum Corporation (NNPC) at a price of N766 per litre.
Multiple sources from the Federal Ministry of Petroleum Resources, NNPC, and major energy marketers confirmed that the deal for crude supply to the Dangote refinery in naira played a crucial role in determining the petrol price.
“What we are seeing with the NNPC and Dangote agreement is similar to the DSDP (Direct Sale of crude oil and Direct Purchase of petroleum products) transactions that previously existed between NNPC and foreign refineries,” an insider revealed. “This arrangement has positively impacted the price, leading to Dangote selling petrol at N766/litre to NNPC. However, how much NNPC will sell to marketers is yet to be determined,” a major energy marketer, speaking on condition of anonymity, told The Bureau Newspaper.
A senior aide to President Bola Tinubu, also speaking anonymously, confirmed the price of N766 per litre for petrol from the Dangote refinery.
Pump Price May Drop
Commenting on the pricing, a senior official of the Independent Petroleum Marketers Association of Nigeria (IPMAN) said if marketers could get the product at N766/litre, additional costs for transportation, levies, and other margins would be factored in.
“Realistically, we might be able to sell at N790 per litre in Lagos, while in the far north, prices could reach N820 per litre due to transport costs,” the IPMAN official said.
Chinedu Gillis-Harry, a key figure in the sector, added, “This will be a welcome development as we are currently buying from NNPC at N870 per litre. If Dangote’s price is lower at N766, it’s a better option for us.”
300 NNPC Trucks Set to Load Petrol Today
In a related development, NNPC has announced that it mobilized 300 trucks to lift petrol from the Dangote refinery today. The corporation’s spokesperson, Olufemi Soneye, confirmed the arrangement, stating that the truck mobilization was part of the agreement between NNPC and the refinery to distribute petrol from the $20 billion Lekki facility.