Paparazzi Press has learned that Dangote’s refinery will sell petrol at N766 per litre to the Nigerian National Petroleum Corporation (NNPC). Sources from the Federal Ministry of Petroleum Resources, NNPC, and major energy marketers confirmed that a key factor driving this price is the agreement to supply crude to Dangote’s refinery in naira.
A senior energy marketer, speaking to Paparazzi Press on condition of anonymity, explained, “This deal is similar to the DSDP (Direct Sale of crude oil and Direct Purchase of petroleum products) agreements that existed between NNPC and foreign refineries in the past. It has positively influenced the petrol price that Dangote is offering to NNPC, bringing it to around N766 per litre. However, I can’t confirm the price NNPC will sell to marketers.”
A senior aide to President Bola Tinubu, also speaking anonymously, verified the petrol price at N766 per litre.
An official from the Independent Petroleum Marketers Association of Nigeria (IPMAN) suggested that if marketers receive the product at N766 per litre, they would need to add costs for transportation, levies, and margins.
“We could potentially sell it at N790 in Lagos, but in the far north, it may reach N820 due to transportation costs,” the IPMAN representative noted.
Meanwhile, Chinedu Gillis-Harry, president of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), expressed optimism about the price reduction. “Currently, we’re paying NNPC N870 per litre. If we can get it at N766, that’s cheaper, and we’ll prefer that,” he said.
However, Gillis-Harry noted a lack of communication from Dangote’s refinery. “We are ready to support Dangote, but they aren’t engaging us. I manage over 6,000 retail outlets, and we’re the people they need to speak to,” he added.
