Ayobamiji Komolafe 
Dangote Refinery Reduces Minimum Fuel Bulk Purchase To 250,000 Litres
The Nigerian Government on Friday granted Petroleum Marketers the permission to lift petrol directly from the Dangote Refinery.
New Telegraph reports that the Federal Government approval ends the Nigerian National Petroleum Company Limited’s (NNPCL) role as the sole off-taker of Dangote-refined fuel and a significant shift in Nigeria’s oil industry.
Announcing the development in a statement made available to newsmen in Abuja, the Minister of Finance and Chairman of the Naira-Crude Sale Implementation Committee, Wale Edun said the development is part of the government’s broader plan to deregulate the petroleum market and encourage competition.
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The Minister provided an update on the new crude oil and refined product sales system, which allows for transactions in naira.
Edun confirmed that petroleum marketers can now purchase Premium Motor Spirit (PMS) directly from local refineries, including the Dangote Refinery, without needing to go through NNPC.
“The Federal Executive Council’s directive has successfully transitioned operations, enabling local production and distribution of crude oil and refined products in naira,” Edun said.
“Petroleum marketers are now encouraged to initiate direct purchases from refineries on commercially negotiated terms, which will enhance competition and market efficiency.”
This new system, which also includes the commencement of local production, is seen as a key step toward fully deregulating Nigeria’s petroleum market.
The government believes these measures will ultimately create more favorable market conditions for Nigerians.
The committee, which held its second post-commencement review meeting on October 10, noted the smooth implementation of this directive, setting the stage for improved market dynamics in the oil and gas sector.
