The Presidential Committee on the Sale of crude oil and Refined Product has disclosed that Dangote Refinery will only sell petrol to the Nigerian national Petroleum Company LimIted, NNPLC.
Zack Adedeji, a member of the Committee and Chairman of the Federal Inland Revenue Service, FIRS, made this disclosure on Friday while briefing journalists on the issue.
Adedeji’s remark, comes on the heels of the controversy surrounding crude oil sale to the refinery owned by Africa’s Richest man, Aliko Dangote, as well as the sale of petrol produced from the refinery to marketers.
Controversy had raged in the sector over whether NNPCL has the sole rights to buy petrol from the refinery.
The reaction of the FIRS boss to the issue, according to analysts may have finally put the controversy to rest.
According to Adedeji, the loading of Premium Motor Spirit, PMS also known as petrol from the refinery will commence from Sunday, September 15, adding that the transaction will be conducted in Naira. NNPCL, he said, will in turn sell to major and independent marketers.
Recall that the federal government, last month, directed the NNPCL to sell crude oil to Dangote and other local refineries in Naira.
The FIRS boss stated, “I am glad to announce that all agreements have been completed and loading of the first batch of PMS from the Dangote Refinery will commence on Sunday 15th September,” Adedeji stated.
“From 1 October, NNPC will commence the supply of about 385kbpd of crude oil to the Dangote Refinery to be paid for in Naira
“In return, the Dangote Refinery will supply PMS and diesel of equivalent value to the domestic market to be paid for in Naira.
“Diesel will be sold in Naira by the Dangote Refinery to any interested off-taker. PMS will only be sold to NNPC, NNPC will then sell to various marketers for now. All associated regulatory costs will also be paid for in Naira,” he said.
The magazine reported that Dangote Refinery had threatened to sell products from the refinery, including petrol and Diesel to buyers outside the country after accusing local marketers of refusal to buy from the company.
The marketers have debunked the allegation.
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