The Federal Government of Nigeria has just granted petroleum marketers permission to lift fuel directly from the Dangote refinery, cutting out the Nigerian National Petroleum Company Limited (NNPCL) as the middleman, Okay.ng reports.
This move confirms speculation that the NNPC will no longer be the sole off-taker of Dangote fuel.
According to Minister of Finance Wale Edun, this change aims to establish a robust framework for local production and distribution of crude oil and refined products for local consumption in naira. The goal is to transition to a fully deregulated market for all petroleum products, promoting competition and improving market efficiency.
This change is part of the Crude Oil and Refined Products Sales in naira initiative, which held its second post-commencement review meeting on October 10 to evaluate progress.
