BREAKING: NNPCL Confirms Buying 16.8 Million Litres Of Petrol From Dangote At N898 Per Litre

Published

2 years ago

September 15, 2024

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BREAKING: NNPCL Confirms Buying 16.8 Million Litres Of Petrol From Dangote At N898 Per Litre—-The Nigeria National Petroleum Company Ltd (NNPCL) has confirmed that it bought petrol from Dangote refinery at N898 per litre and has so far received 16.8 million litres of PMS.

In a chat with Nairametrics, the Corporate Communications Manager of the company, Olufemi Soneye stated that claims that it bought PMS at N1,300 or N760 were incorrect and the N898 was the current loading price.

He said, “We successfully loaded PMS at the Dangote Refinery today. The claim that we purchased it at N1,300 per liter or N760 is incorrect. For this initial loading, the price from the refinery was N898 per liter. The price is determined by market forces. Its a deregulated market. I can also confirm, in response to inquiries, that we will receive 16.8 million liters.”

The NNPC began loading PMS from the Dangote refinery on Sunday 15th September, 2024 after months of delays both from the NNPC on the price and other business details and also the final work on the part of the refinery.

Before operations began, Femi Soneye, Chief Corporate Communications Officer (CCCO) of NNPC Ltd, announced on Saturday that by the end of the day, at least 300 trucks would be positioned at the refinery’s loading gantry, ready for the scheduled petrol loading on Sunday, September 15.

Backstory

Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, recently announced that NNPCL would serve as the exclusive off-taker for refined petrol from the Dangote Refinery.

During the Technical Sub-Committee meeting on the sale of crude oil to local refineries in Naira, Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), representing the Finance Minister, explained that while diesel from Dangote Refinery would be available for purchase in Naira to any interested off-taker, PMS (petrol) would only be sold to NNPCL, which would then distribute it to various marketers.
Additionally, he confirmed the finalisation of agreements and procedures for implementing the Federal Executive Council (FEC) approval, which allows for the sale of crude oil to local refineries in Naira and the corresponding purchase of petroleum products in Naira. This decision was previously endorsed by the FEC under President Tinubu’s leadership.
The government explained that this initiative was designed to ease pressure on the Naira, cut down on unnecessary transaction costs, and enhance the availability of petroleum products across the country.

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JUST IN: Donald Trump Threatens NATO Exit After Rift Over Iran War

Published

2 weeks ago

April 1, 2026

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JUST IN: Donald Trump Threatens NATO Exit After Rift Over Iran War—-US president Donald Trump brands alliance a “paper tiger” and lashes out at Britain as Keir Starmer defends NATO.

Donald Trump says he is strongly considering pulling the United States out of North Atlantic Treaty Organization after allies refused to support US military action against Iran.

In an interview with Britain’s Daily Telegraph, Trump described NATO as a “paper tiger” and said removing the US from the alliance was now “beyond reconsideration.” He accused European allies of failing to back Washington during the conflict with Iran and criticised their refusal to send warships to help reopen the Strait of Hormuz.

Trump also took aim at Britain, mocking the state of its navy and criticising Prime Minister Keir Starmer’s focus on renewable energy.

“You don’t even have a navy,” Trump said. “All Starmer wants is costly windmills.”

Starmer responded by insisting Britain remains fully committed to North Atlantic Treaty Organization, calling it “the single most effective military alliance the world has ever seen.” He said his government would continue to act in Britain’s national interest despite mounting pressure from Washington.

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BREAKING: Dangote Refinery Hikes Petrol And Diesel Prices Amid Economic Strain

Published

1 month ago

March 9, 2026

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BREAKING: Dangote Refinery Hikes Petrol And Diesel Prices Amid Economic Strain—-Dangote Petroleum Refinery has revised its ex-depot prices, increasing the gantry price of Premium Motor Spirit (PMS), or petrol, to ₦1,175 per litre, while Automotive Gas Oil (AGO), commonly known as diesel, has been raised to ₦1,620 per litre.

The latest revision marks the fourth consecutive price review in less than two weeks amid global market volatility, according to a report by Petroleumprice.ng.

Quoting industry sources, the report noted that the new pricing template has been communicated to marketers, following earlier adjustments this month.

Under the revised structure, the ₦1,175 per litre petrol price reflects a significant jump from the previous ₦995 per litre, while diesel has surged sharply from its prior ₦1,430 per litre level, underlining the continued upward trend in domestic fuel pricing.

The development is likely to have a ripple effect across Nigeria’s downstream petroleum market, as depot operators and fuel marketers adjust supply costs in response to the revised prices announced by the country’s largest refining facility.

The refinery had yet to issue an official statement on the development as of the time of filing this report.

Oil prices soared 30 per cent today on fears about supplies from the Middle East, as the US-Israeli war against Iran continued into a second week with no sign of letting up.

Fears grew that the Middle East conflict could last for some time after US President Donald Trump said only the “unconditional surrender” of Iran would end the war.

He added at the weekend that the spike in prices was a “small price to pay” to eliminate Iran’s nuclear threat, reiterating the White House’s insistence that the rise is temporary.

Since the beginning of the war, WTI is up more than 75 per cent and Brent more than 60 per cent.

Attacks on oilfields were reported in southern Iraq and in the northern autonomous Kurdistan region, which forced a US-run oilfield to cease production, while the United Arab Emirates and Kuwait have started reducing output.

That came with maritime traffic in the Strait of Hormuz — through which a fifth of global crude and gas passes — halted since the war began on February 28.

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