Breaking News: Nigeria’s Dangote Refinery to Start Loading Petrol on September 15

In a significant development, the Presidential Committee on the Sale of crude oil and Refined Product has announced that the Dangote Refinery will begin loading petrol on Sunday, September 15. According to committee member and Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, this move marks a major milestone in Nigeria’s energy sector.

As of October 1, the Nigerian National Petroleum Company Limited (NNPCL) will supply around 385,000 barrels per day (kbpd) of crude oil to the Dangote Refinery, which will be paid for in Naira. In return, the refinery will supply petroleum motor spirit (PMS) and diesel of equivalent value to the domestic market, also paid for in Naira.

The Dangote Refinery has also agreed to sell diesel in Naira to any interested off-taker, while PMS will only be sold to the NNPC. NNPC will then sell PMS to various marketers. The committee has also decreed that all associated regulatory costs will be paid for in Naira.

The move is seen as a significant step towards increasing Nigeria’s energy self-sufficiency and reducing reliance on imports. With the country’s energy demands growing, this development is expected to provide a much-needed boost to the economy.

For international readers, it is worth noting that Nigeria’s energy sector has been facing significant challenges in recent years, including power outages and fuel scarcity. The government has been working to increase domestic production and reduce dependence on imports, making this development a significant milestone.

The committee’s chairman, Zacch Adedeji, expressed his enthusiasm for the project, saying, “I am glad to announce that all agreements have been completed and loading of the first batch of PMS from the Dangote Refinery will commence on Sunday 15th September.”