The Nigerian National Petroleum Company Limited (NNPC) is still the only buyer of petrol from the Dangote Petroleum Refinery, despite the government’s recent announcement allowing other oil marketers to start purchasing from the refinery.
Oil marketers revealed on Wednesday that NNPC will continue to be the only buyer of petrol from the refinery until the agreement between NNPC and Dangote ends.
However, the oil marketers did not say when the agreement would finish. Officials from NNPC and the Dangote refinery also did not provide information on this.
Beyond Boders recalls that on October 11, 2024, the government announced that oil marketers could now buy petrol directly from the Dangote refinery without involving NNPC. The finance ministry said this change would help promote competition and improve the market.
Despite this announcement, members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) said after a meeting with Dangote refinery officials on Tuesday that NNPC is still the sole buyer until the agreement ends.
In a notice to IPMAN members in the Western Zone, the South-West Zonal Chairman, Dele Tajudeen, said they had a meeting with the Dangote Group Vice President and other staff. The Vice President confirmed that while the government has directed them to sell petrol to registered marketers, they are still bound by their agreement with NNPC.
“Until and when the agreement is terminated by either party, the direct sales will still be on hold,” he stated.
The notice also urged IPMAN members who have not yet registered to do so quickly to benefit from the opportunity when direct sales begin.
Both NNPC and Dangote refinery have not responded to requests for comments on the situation.
Major oil marketers confirmed they are still getting petrol from Dangote refinery through the existing agreement with NNPC.
