The Presidential Committee on the Sale of Crude Oil and Refined Products has announced that the loading of the first batch of petrol from the Dangote Refinery will begin on Sunday, September 15.

Zacch Adedeji, a committee member and Chairman of the Federal Inland Revenue Service (FIRS), revealed this during a briefing in Abuja on Friday. He confirmed that, starting October 1, the Nigerian National Petroleum Company Limited (NNPCL) will supply approximately 385,000 barrels per day (bpd) of crude oil to the Dangote Refinery, with payments made in Naira.

“I am pleased to announce that all agreements have been finalized, and the loading of the first batch of PMS from the Dangote Refinery will commence on Sunday, September 15,” Adedeji stated.

He further explained that in exchange, the Dangote Refinery will supply petrol (PMS) and diesel of equivalent value to the domestic market, with transactions conducted in Naira.

The committee also resolved that the Dangote Refinery will sell diesel in Naira to any interested buyers, while PMS will be exclusively sold to NNPC. “From October 1, NNPC will begin supplying around 385,000 bpd of crude oil to the Dangote Refinery, paid for in Naira. In return, Dangote Refinery will provide PMS and diesel of equivalent value to the domestic market, also paid for in Naira. Diesel will be sold to any off-taker in Naira, while PMS will only be sold to NNPC, which will then distribute it to marketers. All regulatory costs will also be settled in Naira,” Adedeji concluded.