Hardship: Fuel price hike expected as NNPC quits as middleman for Dangote Refinery

The Nigerian National Petroleum Company Limited (NNPC) has formally ended its exclusive offtake agreement with the Dangote Refinery, allowing other marketers to purchase petrol directly from the facility. According to PremiumTimes, this move is expected to raise fuel prices as the NNPC will no longer cover the price gap between Dangote’s refinery price and the sale price to retailers, previously absorbing a subsidy of around ₦133 per litre. NNPC’s decision marks a crucial shift towards a fully deregulated oil market. Marketers can now negotiate petrol prices directly with the Dangote Refinery under a “willing buyer, willing seller” arrangement, aligning with…..Read Full Article