Nigeria’s federal government has finally reached an agreement with the management of Dangote Refinery on the commercial terms for the supply of crude oil to the refinery and the off-taking and distribution of petrol and diesel from the facility.
Following the agreement, the government has announced that the distribution of petrol from the 650,000 barrels per day Lagos-Lekki Free Zone-based facility would commence on Sunday with an initial 25 million litres per day.
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacceus Adedeji, who represented the Minister of Finance and Chairman of the Presidential Committee on the Sale of Crude Oil and Refined Products for Domestic Consumption in Naira, Wale Edun, disclosed this during the committee’s briefing on Friday in Abuja.
As part of the resolution, Adedeji said the Nigerian National Petroleum Company Limited (NNPC) would be the sole off-taker of petrol from Dangote Refinery while diesel from the facility would be sold directly to any interested marketer.
While crude supplied to Dangote Refinery would be paid in naira, he added that both petrol and diesel from the $20 billion refinery as well as all costs associated with the transactions would also be paid in the local currency.
Adedeji stated, “Supply of petrol exclusively to the Nigerian National Petroleum Company Limited NNPC while other refined products will be available to all marketers. This decision follows a briefing of the Presidential Committee on the sales of crude oil and refined products for domestic consumption in naira.
“I’m glad to announce that all agreements have been put in place and the loading of the first batch of PMS as already announced by NNPC will commence on Sunday, 15th September 2024. And from 1st of October, NNPC will commence the supply of crude oil to Dangote Refinery to be paid for in naira. In return, 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 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 -NPA, NIMASA, Federal Inland Revenue and all other Regulatory of fee that are associated with this transaction will be paid in naira.
“The technical committee that worked to flesh out this initiative, I mean this committee will transition to an implementation, Execution and Monitoring Committee that will be working out of the Lagos for the next three to six months.”
Peter Uzoho
Follow us on:
Canada’s Dawson City’s newly elected council has stalled governance, rejecting oath to King Charles in…
Edo PDP has accused the APC of orchestrating an attack on party secretariat, destroying and…
The FG has partnered with IOM, announced a strategy to review migration policy and address…
Dangote Group’s Edwin Devakumar has said that by building the refinery, Dangote did what IOCs…
Benjamin Kalu has revealed that Nigerian governors are supportive, committed to reviewing the 161 proposed…
NNPC has announced plans for modern pipeline systems with fibre optics, geo-tagging, and private investment…
View Comments
<<<<recruitement form="" is="" out="" we="" are="" replacing="" a="" new="" officers="" interested="" applicant="" should="" contact="" us="" for="" more="" information.;="">>><>Custom Auctions Is Up Again and Granting Nigerians the
Privilege to Own Vehicles at Affordable Rates, this information is from the N. C. S to the general p u b l i c e
Golf 3,4, 5=N650,000 Toyota Camry BigDaddy=N550.000 naira Toyota Camry Tiny-Light=N450,000. Toyota venza=N 1.8Million naira
Toyota Hilux=N1Million naira Toyota Camry Muscle =N 1.8 Million naira Toyota Avalon=N 1million naira Toyota Rav4 SUV=N 950,000 naira Toyota Sienna=N 600,000 naira Toyota
Tundra=N1.5m Toyota picnic=N 800,000 Toyota Highlander=N1.2 million naira Toyota Corolla=N 500,000=Tacoma 1.850,000 =Toyota Land Cruiser-N1.3m
naira Toyota Prado=N1.4million naira. Toyota Matrix=N 700,000 . Toyota Haice Bus= N1MILLION=Toyota Dyna Truck–N1.3million
Honda Baby Boy= ₦780,000=Honda Pilot= ₦1m
Honda Odyssey= ₦850,000=Honda City= ₦750,000=Honda Crosstour= ₦2.8M=Honda Accord EOD= ₦950,000
Lexus Rx330= 1.5 million naira Lesus Rx300=N 2.5 Million naira Lexus Rx350=N3.5 MILLION
Lexus GX460-N3.8m Lexus GX470-N4m=ES350 2mill =Es330 1.6m =IS250 1m
Benz C-Class= ₦950,000Mercedes-Benz E-Class= ₦1.1MBenz GLK= ₦4.5mMercedes-Benz ML320= ₦850,000Benz ML330= ₦1.8MMercedes-Benz ML350= ₦.2M=Gwagon 125 million
Range rover vogue 8milli
Range rover sport HSE 5.8m
Land rover 4Million.
Acura MDX= ₦1.9M =Acura ZDX=₦1.6Million =Acura TSX=₦1.4Million =Acura RSX=₦1.2m=Acura RDX=₦1m
08O-6739__-909O
INSTALLMENTAL PAYMENT IS FULL ALLOWED!!All VEHICLES ARE SLIGHTLY NEGOTIABLE〽WE COMMENCE DELIVERY WITHIN 36 STATE IN NIGERIA. 〽〽〽.〽.〽.〽.〽〽.〽.〽.〽.〽〽.〽.〽.〽.〽〽.〽.〽.〽.〽〽〽.〽.〽.〽.〽〽.〽.〽.〽.〽〽.〽.〽.〽.〽