The Dangote refinery might shift its focus to exporting Premium Motor Spirit (PMS) due to the Nigerian National Petroleum Company Limited (NNPC) refusing to become the sole buyer of its products. The NNPC stated it would only purchase Dangote’s fuel if it were cheaper than international market rates.
While the refinery was ready to supply petrol locally, Dangote’s plans have stalled following the NNPC’s stance. In response, Dangote may start exporting its petrol to international markets, leaving Nigerians disappointed after hoping the refinery would reduce fuel prices domestically.
Despite negotiations, the NNPC emphasized that it would not fix prices for Dangote’s fuel, and the refinery was free to sell to other marketers. Meanwhile, independent marketers, represented by the Independent Petroleum Marketers Association of Nigeria (IPMAN), have expressed readiness to buy from Dangote at any price.
As the dispute continues, black market fuel prices have skyrocketed in parts of Nigeria, while NNPC-controlled stations maintain slightly lower prices.
