Petroleum marketers have begun lifting Dangote petrol through Nigerian National Company (NNPC) Trading Limited for ₦765.99 to retail outlets nationwide.
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BusinessDay reported that 11 Plc, Total Energies, AA. Rano and other marketers who were able to complete their payment process on the NNPC trading payment portal commenced the lifting of petrol earlier this week.
It went further to report that Tunji Oyebanji, managing director, 11 Plc on Thursday confirmed that some marketers have started lifting the products at ₦765.99 form Dangote Refinery through NNPC who remain the sole off-taker of product.
“We were among the first marketers to complete the payment on the NNPC portal. We have no direct arrangement with the refinery,” Oyebanji said.
He added, “We don’t know the contractual financial arrangement between NNPC and the refinery but what I can confirm is we are buying at N765.99 from NNPC to lift Dangote petrol”.
Efforts to get the Independent Petroleum Marketers Association of Nigeria (IPMAN) to confirm if its members have picked up products at the Dangote Refinery proved abortive at the time of writing this report.
NNPC on Monday released retail prices of Dangote petrol nationwide, stating that it procured the product from Dangote in United States dollars equivalent to ₦898.78.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur