It has been disclosed that no oil marketer is going to buy Premium Motor Spirit, popularly called petrol, from the Dangote Petroleum Refinery and sell at the prevalent pump prices at filling stations in Nigeria except the Nigerian National Petroleum Company Limited, operators in the downstream oil sector have declared.
It was reported that the President of Dangote Industries Limited, Alhaji Aliko Dangote, announced that the $20bn refinery was set to roll out its petrol in August 2024, having resolved its crude oil supply issues through the help of NNPC and the Federal Government.
“Gasoline (petrol) production is to commence in July with sales from August. Annual revenue is projected to exceed $26bn,” Dangote had stated while delivering a presentation at the plant last month.
But oil marketers told reporters that no dealer in Nigeria would be able to buy the petrol from the Dangote refinery, because the product would be priced at the international market rate, far higher than the domestic cost at the pumps.
