The Federal Government of Nigeria has confirmed that it will supply Dangote Refinery 385,000 barrels per day through the Nigerian National Petroleum Company Limited, NNPCL, which will be paid in local currency.
The supply will commence from 1st October, 2024, the Presidential Committee on the Sale of Crude Oil and Refined Product which disclosed this on Friday in Abuja.
The Committee also confirmed that the lifting of Premium Motor Spirit from the Dangote Refinery will commence on Sunday 15th September, 2024.
One of its members and Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, while briefing journalists in Abuja, said the nation’s oil company will, from October 1st, commence crude oil supply to be paid in Naira.
“From 1 October, NNPC will commence the supply of about 385kbpd of crude oil to the Dangote Refinery to be paid for in Naira.
“In return, the Dangote Refinery will supply PMS and diesel of equivalent value to the domestic market to be paid for in Naira..
“Diesel will be sold in Naira by the Dangote Refinery to any interested off-taker. PMS will only be sold to NNPC, NNPC will then sell to various marketers for now. All associated regulatory costs will also be paid for in Naira,” the FIRS boss said.
Adedeji said, all agreements have been concluded with the Dangote Refinery for a hitch-free lifting of petroleum products.
