BREAKING: Dangote Refinery Announces New Fuel Price

Dangote Refinery has announced a new fuel price sale to NNPCL.

NaijaOnPoint Nigeria reliably gathered that the Dangote Refinery would sell its petrol at N766 to the Nigerian National Petroleum Company.

According to Punch, sources from the Federal Ministry of Petroleum Resources, NNPC, and major energy marketers confirmed that the deal to supply crude to the Dangote refinery in naira was a key factor that led to the PMS price.

“What we are going to see based on the deal between NNPC and Dangote is similar to the DSDP (Direct Sale of crude oil and Direct Purchase of petroleum products) transactions that used to exist between NNPC and foreign refineries in the past.

“And this has really impacted positively on the price of petrol that Dangote is selling to NNPC, because the cost is around N766/litre. But I can’t tell how much NNPC is going to sell to marketers now,” a major marketer said.

Another senior aide to President Bola Tinubu, who spoke on condition of anonymity, confirmed that the petrol would be sold at 766/litre.

Reacting to the Dangote fuel price, a senior IPMAN official said if marketers could get the product at N766, they would need to add the cost of transportation, levies, and other margins.

He said, “Give and take, we can sell at N790 in Lagos. In the far north, it may be N820 per litre because of the distance.”

Meanwhile, no fewer than 300 trucks belonging to the Nigerian National Petroleum Company Limited are presently stationed at the Dangote refinery to begin loading any moment from now.