NNPCL To Begin Lifting Petrol from Dangote Refinery

The Nigerian National Petroleum Company Limited (NNPC Ltd.) will start lifting petrol from the Dangote Refinery on September 15, Warri Sentinel understands.

The announcement follows a denial by the refinery of earlier reports that NNPCL had already begun petrol liftings at N897 per litre.

Mr Adedapo Segun, Executive Vice President of Downstream at NNPCL clarified on TVC News’ “Journalists’ Hangout” that the company is preparing to meet the September 15 deadline set by the refinery.

He attributed recent fluctuations in petrol prices to foreign exchange liquidity issues and noted that petrol prices are now determined by market forces, as per the Petroleum Industry Act (PIA) of 2021.

He revealed “the market has been deregulated, meaning that petrol prices are now determined by market forces rather than the government or NNPC Ltd”.

Segun also addressed the ongoing fuel scarcity, stating it is expected to ease soon as more stations recalibrate and resume regular operations.

He assured that NNPCL is working to ensure adequate fuel supply through its nearly 1,000 filling stations. ” We are also engaging relevant authorities to ensure produts diversion are prevented and timely deliveries to all stations are ensured” he stated.

He boasted of the oil’s firm collaboration with marketers to maintain fuel availability.