The Nigerian National Petroleum Company (NNPCL) has stated that it will reduce its imports of Premium Motor Spirit, also known as petrol, once the Dangote Refinery begins producing refined petroleum products in late July or early August.

NNPCL has been Nigeria's sole importer of petrol for a long time. Due to their inability to get US dollars at the official rate, other oil marketers ceased importing petrol.

Additionally, NNPCL maintained a 20% share in the Dangote Refinery. On May 22, 2023, former president Muhammadu Buhari commissioned the 650,000 barrels per day crude oil processing refinery, describing it as a game-changer.

Aliko Dangote, the founder and chairman of the Dangote Group, also spoke at the ceremony and stated the facility will stop the importation of harmful, substandard petroleum products into Nigeria. He also added that the refinery would supply all of Nigeria's petrol requirements.

Dangote added that the refinery would begin supplying refined products to the Nigerian market by the end of July or the beginning of August of this year.

When our news source contacted the national oil corporation and inquired about what would happen to the NNPCL fuel imports program after the Dangote Refinery started delivering products in August, Garba-Deen Muhammad said that this would change.

He said, “NNPC Limited is bringing in products from outside Nigeria as a matter of necessity, not as a matter of choice. We would have preferred that we produce here, refine here and we sell and provide the energy security that the country needs.

“Because of the circumstances that surround our refineries, we cannot allow the country to be grounded. So we have to buy wherever we can get and sell. So if Dangote products are available, why should we not buy from Dangote?

“There is absolutely no reason. And that is the reason why we are interested in the Dangote Refinery. We are co-owners, shouldn’t we do business with our partners rather than do it with other people?”

Meanwhile, oil marketers said the cost of refined petroleum products to be produced by the Dangote Refinery would not be known at the moment until the refinery released its pricing template.