The Dangote Petroleum Refinery has announced a new pump price of ₦865 per litre for petrol, reflecting a slight reduction from the previous rate of ₦880 per litre, which was in effect just a day earlier.
According to Punch, this new pricing was disclosed in a notice sent to customers on Thursday morning. The update was also verified by petroleumprice.ng.
Naturenex notes that this revision comes in the wake of the federal government putting a hold on the Naira-for-Crude deal it had with the refinery.
Petroleum marketers, including MRS, have already started lifting fuel from the Dangote facility, which has a refining capacity of 650,000 barrels per day.
This price adjustment follows a review by the Technical Sub-Committee on the Crude and Refined Product Sales in Naira initiative, which confirmed the federal government’s decision to maintain the “crude-for-naira policy.”
The Sub-Committee met on Tuesday to evaluate the policy’s progress and tackle any existing implementation issues.
Present at the meeting were key officials such as Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, who also chairs the Implementation Committee; Zacch Adedeji, the Executive Chairman of the Federal Inland Revenue Service (FIRS) and head of the Technical Sub-Committee; and Dapo Segun, Chief Financial Officer of NNPC Limited.
Other notable attendees included the Coordinator of NNPC Refineries, members of NNPC Trading, representatives from Dangote Petroleum Refinery and Petrochemicals, officials from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Central Bank of Nigeria (CBN), Nigerian Ports Authority (NPA), Afreximbank, and the Committee’s Secretary, Hauwa Ibrahim.
