A new phase has begun in Nigeria’s downstream sector of the oil and gas industry as the Dangote Petroleum Refinery started supplying Premium Motor Spirit (PMS), otherwise known as petrol, directly to petroleum marketers.
Industry watchers describe the move, taken clearly independent of the Nigerian National Petroleum Company Limited (NNPCL), as a huge step as the country moves towards total deregulation of the sector.
According to reports, several oil marketers have started sourcing their stock of petrol directly from the refinery under a willing-buyer, willing-seller arrangement.
“Marketers are now lifting PMS directly from the refinery without involving NNPC or third parties,” Punch newspaper quoted a senior refinery official who spoke anonymously.
“We’ve reached agreements with some marketers, and more deals are ongoing.”
In the meantime, the Nigerian Ports Authority has revealed that four vessels laden with 123.4 million litres of petrol berthed at two seaports between October 18 and October 20, 2024. The cargo is expected to boost availability of the product as well as complement supply from Dangote Refinery.
