The Dangote Petroleum Refinery in Ibeju-Lekki, Lagos, commenced loading Premium Motor Spirit (PMS) into Nigerian National Petroleum Corporation (NNPC) trucks on Sunday.
Refinery Capacity:
$20bn facility equipped with 86 gantries for simultaneous loading.
Initial Supply:
25 million litres per day to begin distribution.
NNPC’s Role:
Sole buyer of petrol from refinery, to sell to marketers.
Minister’s Assurance:
“All agreements in place” for smooth distribution.
Quote:
“I am glad to announce that… loading of first batch of PMS will commence on Sunday, September 15, 2024.” – Minister Wale Edun
Pricing Concerns:
Marketers unaware of pricing template, matrix.
Industry Reactions:
IPMAN, PETROAN express concerns over potential monopoly.
Quote:
“It should be open for all… We are also looking at how to build our logistics and come up with our price.” – Chinedu Ukadike, IPMAN National Publicity Secretary
Call for Transparency:
Marketers demand open market, willing-buyer willing-seller principle.
Next Steps:
NNPC to supply crude oil to Dangote refinery from October 1.
