Hopes that Nigerians would soon benefit from fuel from Dangote Refinery may be short-lived, as a source revealed that it won’t happen as soon as expected. This comes after Adedapo Segun, Executive Vice President of Downstream at the Nigerian National Petroleum Company Limited (NNPCL), stated in a recent TV interview that petrol would start being lifted from the refinery by Sunday, September 15.
However, a source told Daily Post that this timeline is unrealistic. The insider disclosed that no formal documentation or agreements have been finalized between the NNPCL and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for the fuel lifting process.
“As of now, no documentation has been completed between NNPCL and NMDPRA for lifting products from Dangote Refinery. There is no arrangement in place to begin on September 15, 2024,” the source explained.
This new development is likely to delay the relief Nigerians were expecting. On Tuesday, Eche Idoko, spokesperson for the Crude Oil Refiners Association of Nigeria, shared in an interview that fuel prices could decrease if Dangote Refinery supplies its products to the government in naira.
Idoko emphasized that this would depend on the federal government fulfilling its promise to sell crude oil to Dangote Refinery and other local refineries in the local currency.
“If the government follows through on these concessions, there’s no reason why Dangote’s fuel would be too expensive. In fact, his prices could be lower,” Idoko added.
