The Federal Government has granted permission for petroleum marketers to procure petrol straight from the Dangote refinery, circumventing the Nigerian National Petroleum Company Limited (NNPCL).
Wale Edun, the Minister of Finance and chair of the Naira-crude sale implementation committee, revealed this development in a statement released on Friday. During the committee’s recent meeting on October 10, members evaluated the new framework for crude and product transactions in naira.
This new purchasing method allows marketers to engage directly with refineries, enhancing market competition and streamlining the supply chain for petroleum products. Edun noted that this represents a major departure from the former arrangement in which NNPCL was the exclusive buyer and distributor of petrol from refineries.
