NNPCL to cut fuel import from August

The Nigerian National Petroleum Company has confirmed that once the Dangote Refinery starts pumping out refined petroleum products from late July or early August, the NNPCL will cut down on its imports of Premium Motor Spirit, popularly called petrol.

NNPCL is currently the sole importer of petrol into Nigeria, a task which it had shouldered for several years. Other oil marketers stopped importing petrol due to their inability to access the United States dollars at the official rate. NNPCL also owned 20 per cent stake in the Dangote Refinery.

The 650,000 barrels per day crude oil processing refinery was inaugurated on May 22, 2023 by former President Muhammadu Buhari, who described the facility as a game-changer.

Also at the inauguration, the Founder/Chairman, Dangote Group, Aliko Dangote, said the facility would put an end to the inflow of toxic substandard petroleum products into Nigeria, adding that the refinery would meet 100 per cent of Nigeria’s fuel needs.

Dangote also stated that the refinery would start delivering refined products to the Nigerian market from late July or Early August this year.

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