Loading of refined petroleum products from Dangote Refinery will begin on Sunday.
Dangote will be selling to retail outlets across the country from its initial daily allocation of 25 million litres, delivered through the NNPC Trading Limited at a cost of N765.99.
The arrival of the Dangote petrol will not impact on pump price positively.
Despite the petrol from Dangote, NNPC Trading Limited is still expected to continue to import petrol to meet up with a shortfall of 15 million litres, Nigeria’s daily demand estimated at 40-50 million litres a day.
Each marketer will take a maximum of 50 trucks daily. They will buy at a price of N765.99 through the NNPC Trading Limited, including costs movement and sell at the current pump price of N855 to N897 depending on the location per litre.
To ensure a smooth transition, marketers were asked on Friday to start sending their trucks to the Dangote refinery to facilitate the lifting process.
Dangote Refinery is expected next month to move to a daily allocation of 30 million litres. After then, marketers will be carrying their fuels using ships. NNPC and Dangote refinery are currently meeting in Abuja to finalise the lifting plans and a joint statement is expected to be is issued after the meeting.
The move is expected to significantly boost the country’s fuel supply and alleviate the challenges faced by consumers.
The plan by Dangote is expected to reduce the country’s dependence on imported petroleum products and contribute to economic growth.
Dangote’s production is expected to impact billions of dollars of trade in fuel markets locally and internationally.
Nigeria received almost 250,000 barrels a day in shipments of pms last year, mostly from Europe, according to data from analytics firm Vortexa Ltd.
For many years, European refiners have enjoyed a lucrative market in Nigeria as an unreliable power supply from the national grid forces companies to rely on imported fuel which costs the country about 17 million dollars annually.