NNPLC Confirms Date to Commence Dangote Petrol Sale

Petroleum Company Limited (NNPCL) has officially confirmed that petrol from the highly anticipated Dangote Refinery will be available in the market starting September 15, 2024.

This announcement marks a significant milestone for Nigeria's petroleum industry, as it transitions towards a deregulated market where petrol prices will be determined by market forces rather than government intervention.

Adedapo Segun, NNPCL's Executive Vice President of Downstream, emphasized the importance of this shift. "The market has been deregulated, meaning that petrol prices are now determined by market forces rather than by the government or NNPC Ltd," Segun stated.

He also highlighted that foreign exchange challenges have been a key factor in petrol price fluctuations, but assured that the situation would improve in the coming days.

This development follows the Federal Government's declaration that a massive supply of petrol is expected by the weekend, although it ruled out any price fixing.

Aliko Dangote, the billionaire industrialist, unveiled a sample of refined petrol from the $20 billion Dangote Refinery on September 3, 2024, further heightening expectations.

Segun also addressed the ongoing fuel scarcity, assuring Nigerians that the situation would soon ease. "We are collaborating with marketers to ensure stations open early, close late, and maintain adequate fuel supply.

The scarcity should ease in the next few days as more stations recalibrate and begin operations," he added.