By Abiola Olawale
Recent reports have revealed that the Nigerian National Petroleum Company Limited (NNPCL) is currently distributing Premium Motor Spirit (PMS), commonly referred to as petrol, sourced from the Dangote refinery to oil marketers nationwide for N765.99 per litre.
According to reports, 11plc, Total Energies, AA Rano, and other marketers have begun lifting Dangote petrol from NNPCL Trading Limited at the rate of N765.99 per litre.
This is coming after the NNPCL said it got petrol at N898 per litre from the private refinery.
Speaking on the development to the press, executive vice-president, downstream at NNPCL, Adedapo Segun, noted that the oil corporation is selling petrol at a lower rate because the product is being subsidised.
He said marketers cannot purchase petrol directly from the refinery because the product is still sold at a subsidised rate.
He said: “That is the same thing happening with Dangote. I said earlier that Dangote is a company and it is going to sell at market price.
“The market value of PMS is still higher than what N766 or N765 or N799 that NNPC is selling.
“The situation has not changed there. So, NNPC’s off-taking is only because the others would not buy at the price Dangote will be willing to sell, which is reasonable.
“As soon as the price allows for it, you will see the marketers go to Dangote and buy.”
It was also learnt that some petroleum marketers who were able to complete their payment processes on the NNPC trading payment portal commenced the lifting of petrol earlier this week under the existing agreement between marketers and the refinery.
