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The Nigerian Nationwide Petroleum Firm Restricted (NNPCL) has stopped its particular deal to purchase petrol solely from Dangote Refinery. An organization official advised PREMIUM TIMES, “Sure, it’s true. We are able to now not proceed to bear that burden.”
This alteration means different corporations can now purchase petrol straight from Dangote Refinery on the present market costs. This can be a large change from earlier than.
Earlier, NNPC was shopping for petrol from Dangote at N898.78 per litre and promoting it to different corporations at N765.99 per litre, which meant NNPC was dropping about N133 per litre. From September 15 to 30, NNPC received about 103 million litres of petrol from the refinery. Nevertheless, the refinery was solely in a position to fill 2,207 of the three,621 vans that NNPC despatched.
This example started to alter after Devakumar Edwin, Vice President of Dangote Industries Restricted, mentioned in September that Dangote Refinery was beginning to make petrol and that NNPC would purchase all of it.
Nevertheless, NNPCL’s spokesperson, Femi Soneye, later mentioned that Dangote Refinery wasn’t the one place NNPC may purchase merchandise from. He defined that NNPC and different corporations may purchase any product from any refinery on a “prepared purchaser, prepared vendor” foundation, like how diesel and kerosene are offered.
Soneye additionally talked about that costs for petrol from any refinery, together with Dangote, are determined by international markets, not simply by the place it’s made. He said, “There is no such thing as a promise that making petrol in Nigeria will all the time be cheaper than the worldwide value.”
Lastly, he clarified that NNPC would solely purchase all of the petrol from Dangote if it was cheaper than the market value in Nigeria. He assured that each one refineries in Nigeria are free to promote their merchandise to anybody they select.
