NNPC RETAINS SOLE OFF-TAKER ROLE FOR DANGOTE REFINERY’S PETROL DESPITE FEDERAL GOVERNMENT’S DIRECTIVE
The Nigerian National Petroleum Company Limited (NNPC) remains the sole purchaser (off-taker) of Premium Motor Spirit (PMS) from Dangote Refinery, despite a recent announcement from the Federal Government allowing other marketers to buy petrol directly from the refinery.
The Federal Government's directive, issued on October 11, 2024, aimed to open up competition, encouraging oil marketers to negotiate direct purchases from Dangote Refinery.
However, due to a standing agreement between NNPC and the refinery, NNPC will retain its exclusive off-taker status until the agreement is either completed or terminated.
Oil marketers, through the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed after a meeting with Dangote Refinery officials that the agreement is still in force. The exact termination date of the deal remains undisclosed.
IPMAN has urged its members to prepare for direct purchases when the agreement ends, highlighting the importance of registration to benefit from the refinery’s product supply in the future.
Both Dangote Refinery and NNPC have declined to provide further details on the agreement's duration or its eventual termination.
The Nigerian National Petroleum Company Limited (NNPC) remains the sole purchaser (off-taker) of Premium Motor Spirit (PMS) from Dangote Refinery, despite a recent announcement from the Federal Government allowing other marketers to buy petrol directly from the refinery.
The Federal Government's directive, issued on October 11, 2024, aimed to open up competition, encouraging oil marketers to negotiate direct purchases from Dangote Refinery.
However, due to a standing agreement between NNPC and the refinery, NNPC will retain its exclusive off-taker status until the agreement is either completed or terminated.
Oil marketers, through the Independent Petroleum Marketers Association of Nigeria (IPMAN), confirmed after a meeting with Dangote Refinery officials that the agreement is still in force. The exact termination date of the deal remains undisclosed.
IPMAN has urged its members to prepare for direct purchases when the agreement ends, highlighting the importance of registration to benefit from the refinery’s product supply in the future.
Both Dangote Refinery and NNPC have declined to provide further details on the agreement's duration or its eventual termination.