The issue over the supply of crude from the International Oil Cooperation (IOC) has been resolved following the intervention of the Nigerian National Petroleum Company Limited (NNPCL) and the federal government.
The Nigerian upstream petroleum regulatory commission (NUPRC) Is of the opinion that the domestic crude supply obligations under the petroleum industry act (PIA) has been fully enforced .
It blamed operators of domestic refineries in the country for seeking cheaper crude below international practices. Hence, the NNPC and IOC’s have started making crude cargoes available to the refineries.
Alhaji Aliko Dangote, a Nigerian business tycoon and the chief executive officer of Dangote group has said that, “petrol will roll out from Dangote refinery next month.
During a tour of the Dangote Petroleum refinery in Ibeju, Lekki local government area of Lagos state, Dangote said that the crude supply challenge, which affected the supply of petrol from the refinery, was resolved last week.
He hoped that, the provision of the domestic supply in the petroleum Industry act (PIA) will be acted upon accordingly by the authorities and stakeholders.
He also mentioned that, the refinery’s fertilizer unit would resume export in two weeks due to the efforts to meet local demand this farming season for Nigerians and the rest of Africa because, there is a massive request and his group has no choice than to respond positively.
At full operations, Dangote Refinery is expected to produce approximately 50 million liters of petrol and 15 million liters of diesel daily, equating to 10.4 million tonnes of petroleum products annually.
