In a significant policy shift, the Federal Government of Nigeria has authorized petroleum marketers to lift petrol directly from the Dangote Refinery, bypassing the long-standing arrangement where the Nigerian National Petroleum Corporation Limited (NNPCL) acted as the sole intermediary. This move, which marks a departure from the traditional procurement structure, aims to promote efficiency and…
The Federal Government of Nigeria has officially commenced the sale of crude oil to Dangote Refinery and other local refineries in the local currency, the naira, as of October 1, 2024. This significant step was disclosed by Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, in a statement released on Saturday….
The Nigeria National Petroleum Company Ltd (NNPCL) has announced plans to supply a substantial amount of crude oil to the Dangote Refinery over the next two months. According to Mr. Adedapo Segun, Executive Vice President of the NNPCL, the company is set to deliver a total of 17.6 million barrels of crude oil between September…
This directive aims to ensure the stability of both the pump price of refined fuel and the dollar-naira exchange rate.
Dangote Refinery Set to Commence Petrol Production in August 2024 Following Resolution of Crude Supply Issues Alhaji Aliko Dangote, President of the Dangote Refinery, has announced that the refinery is poised to begin petrol production in August 2024. This development follows the successful resolution of crude oil supply challenges with the assistance of the Nigerian…
