Petrol: Marketers Now Allowed to Purchase Product from Dangote Refinery - FG

The Federal Government has announced that all petroleum marketers are now permitted to purchase products directly from the Dangote Refinery in Lagos.

This policy shift was confirmed following a meeting of the technical committee led by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.

The decision marks the end of the previous arrangement where the Nigerian National Petroleum Company Limited (NNPCL) acted as the sole off-taker of the refinery's products.

The new direct purchase model allows marketers to negotiate commercial terms directly with local refineries, fostering a more competitive market environment.

As stated by the Minister, this transition is expected to "enhance efficiency in product availability and stabilize market conditions for the benefit of all Nigerians."

The move is part of broader efforts to transition towards a deregulated market structure for Premium Motor Spirit (PMS), which is anticipated to support local production and streamline the supply chain.