AGS NEWS – Four days before the planned start date of September 15, 2024, for lifting petrol from the Dangote Refinery, AGS NEWS has found that no commercial agreement has been finalized between the Nigerian National Petroleum Company Limited (NNPC) and Dangote.

Both companies have yet to settle on the quantity and price of the petrol.

NNPC’s Executive Vice President of Downstream, Adedapo Segun, had previously announced that NNPC would begin lifting Dangote petrol on September 15, with pricing influenced by foreign exchange rates and market forces due to deregulation.

However, sources from both NNPC and Dangote revealed that no official documentation or agreement has been made regarding the deal.

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Officials from the Federal Ministry of Petroleum Resources also confirmed that no concrete agreement has been reached yet.

Meanwhile, the Crude Oil Refiners Association of Nigeria (CORAN) suggested that Dangote’s petrol could be cheaper if the government provides the promised concessions. They also indicated that pricing discussions are still ongoing.

The AGS reports that the refinery has not yet started distributing its petrol, and concerns remain about potential high prices.

CORAN’s spokesperson stated that they will wait for government decisions before making any further statements.