The Nigerian National Petroleum Company (NNPC) Limited is set to become the initial exclusive buyer of premium motor spirit (PMS), popularly known as petrol, from the Dangote Refinery as the company begins processing of the product.
Reuters said in a report on Monday that the refinery is ready to roll out petrol in the coming weeks as testing has begun in the 650,000 barrel per day petrochemical plant.
Vice president at Dangote Industries Limited, Devakumar Edwin, also mentioned that the national oil company is prepared to purchase its products exclusively to meet local demands.
“We are testing the product (gasoline) and subsequently it will start flowing into the product tanks.
“If no one is buying it, we will export it as we have been exporting our aviation jet fuel and diesel,” Edwin said.
He, however, did not mention when the product will hit the market.
Scarcity of petrol is biting hard across the country, a situation that has been blamed on debt owed international oil traders by the NNPC.
If NNPC becomes the exclusive buyer from the Dangote Refinery, it will provide much-needed relief and significantly lower importation and logistics costs, allowing local marketers to purchase petrol from NNPC at a reduced price.
This arrangement could also address the persistent fuel scarcity that has plagued the country.
