Now Buys From Dangote Refinery, NNPCL Announces End Of Fuel Importation
The Nigerian National Petroleum Company Limited (NNPCL) has said it has ended its age-long importation of refined petroleum products and is currently purchasing fuel from the Dangote Petroleum Refinery and other local refineries.
The NNPCL Group Chief Executive Officer, Mele Kyari, disclosed the new development on Monday at the ongoing conference of the Nigerian Association of Petroleum Explorationists in Lagos State.
Kyari disclosed that the NNPC would no longer import fuel, as it now buys it from local refineries.
“Today, NNPC does not import any product, we are taking only from domestic refineries,” he was quoted.
He continued: “The point is very far from it and I’m going to speak to it straight. We are very proud part-owners of Dangote refinery, no doubt about it. We saw an opportunity that there is a clear market for at least 300,000 barrels of our production; we know that as time moves on, people will start struggling to find markets for their production.
“It will happen, It’s already happening. Oil is found, as you know, in many unexpected locations across the world and people have choices. Therefore we saw an opportunity to log supply to the domestic refinery, not just Dangote but any other refinery that operates in the country, so it was a very informed business decision.
“Therefore, from day one, we knew that it is to our benefit to supply crude oil to the domestic refinery, so we don’t need to be persuaded; we don’t need anyone to talk to us, there is no need for any pressure from the streets for us to do this. We are already doing this,“ he clarified.
On the request that Nigeria needs to domesticate its oil, he posited that Nigerian crude is ’Lamborghini crude ‘, so the products would be pricey.
The NNPC boss claimed that some global dealers purchase oil and combine it with dirtier fuel to save money.
Ibom Focus had also reported that the members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) were set to lift refined petroleum products directly from Dangote Refinery.
This assurance came after the union secured an agreement with Dangote Group on Monday according to IPMAN National President, Abubakar Garima.
The President announced this to newsmen after a meeting of the National Working Committee of the Association, assuring that the partnership will ensure steady, and affordable supply of PMS products nationwide.
