As of Sunday, at least 300 trucks belonging to the Nigerian National Petroleum Company Limited (NNPCL) are reportedly at the Dangote refinery, getting ready to load petrol in preparation for the scheduled Sunday loading date. According to NNPC spokesperson Olufemi Soneye, who shared the information via a video on his social media channel on Saturday, over 100 trucks had already deployed, with hundreds more expected to arrive shortly.

In a separate briefing on Friday, the Presidential Committee on the Sale of crude oil and Refined Product chair, Zacch Adedeji, a member and Chairman of the Federal Inland Revenue Service (FIRS), disclosed that from October 1, NNPC will commence the supply of approximately 385 thousand barrels per day (kpd) of crude oil to the Dangote Refinery to be paid for in Naira. In return, the refinery will supply the same quantity of petrol and diesel in equivalent value to the domestic market, also to be paid for in Naira.

The agreement also ensures that diesel will be sold in Naira by Dangote Refinery to any interested buyers, with petrol only sold to NNPCL. NNPC will then distribute the petroleum products to various marketers and pay associated regulatory costs, also in Naira. This development aims to resolve the severe shortage of petrol in the country and lower the skyrocketing prices witnessed recently.

Loading of petrol from the Dangote Refinery is set to commence on September 15, as announced by President Adedeji. Given the significant step taken in this agreement, the Dangote refinery’s preparedness to transport and refine crude oil has the potential to ease fuel scarcity nationwide and stabilize petroleum prices across the country.

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