In a move that marks a significant turning point in Nigeria’s petroleum history, the Nigerian National Petroleum Company Limited (NNPC) has embarked on a pioneering partnership with Dangote refinery. By purchasing petrol from the refinery at a mutually agreed price, NNPC has set the stage for a new era of collaboration and growth in the nation’s petroleum sector.
This landmark achievement is a testament to the power of collaboration and the unwavering commitment of both partners to revolutionize Nigeria’s petroleum industry.
As NNPC’s spokesman, Olufemi Soneye, aptly put it, “We have successfully initiated the loading of petrol from the Dangote refinery, marking a significant milestone in our journey towards enhancing Nigeria’s energy security.”
With over 300 trucks arriving to collect the first batch of petrol, this development is poised to have a far-reaching impact on Nigeria’s petroleum sector. The partnership is expected to not only reduce the nation’s reliance on imported petroleum products but also stimulate economic growth and development.
According to the Minister of Finance, Wale Edun, “NNPC will serve as the sole recipient of refined petrol from Dangote refinery, which will subsequently be distributed to various marketers.”
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This strategic move is part of the Federal Executive Council’s approval for the sale of crude to local refineries in Naira and the corresponding purchase of petroleum products in the same currency.
As Nigeria continues to navigate the complexities of the oil and gas industry, this partnership between NNPC and Dangote refinery shines a light on the possibilities that can be achieved through collaboration and innovation.
By working together, both partners are poised to make a lasting impact on the nation’s petroleum sector and set a new standard for excellence in the industry.
