Devakumar Edwin, Vice President of Dangote Industries Limited, has announced that the Nigerian National Petroleum Corporation (NNPC) will be the sole buyer of products from the Dangote Refinery as it begins production.
According to Edwin, the NNPC is ready to purchase all outputs from the refinery to meet the country’s local demand for petroleum products. “We are currently testing the gasoline, and soon, it will start flowing into the tanks,” he stated. He added, “If no one buys it locally, we will export it, just as we’ve been doing with our aviation jet fuel and diesel.”
This announcement comes amid ongoing financial difficulties for the NNPC. Tribune Online previously reported that NNPC Limited admitted to owing a substantial debt to international oil traders, leading to a fuel supply shortage for local distributors.
Recent reports indicate that the NNPC owes these traders approximately $6 billion in unpaid subsidies, causing them to halt petrol supplies to the national oil company.
Although NNPC initially denied these claims, it later acknowledged that its outstanding debts to suppliers have significantly contributed to the ongoing fuel scarcity across the country.
With the NNPC now designated as the sole buyer from the Dangote Refinery, this arrangement provides some relief to the national oil company as it continues to manage its international financial obligations.
