The Nigerian National Petroleum Company (NNPCL) has stated that it would reduce its imports of Premium Motor Spirit, more commonly known as gasoline, once the Dangote Refinery begins producing refined petroleum products in late July or early August.
Since it has been doing so for a while, NNPCL is presently Nigeria’s only importer of gasoline. On May 22, 2023, former President Muhammadu Buhari opened the 650,000 barrels per day crude oil processing refinery, describing it as a game-changer.
And for that reason, the Dangote Refinery has our attention. According to Muhammad, the NNPCL will be providing crude oil to the Dangote Refinery in accordance with a commercial arrangement between the two sides based on business agreement between both parties, and that this would be in accordance with the international price of crude.