The Nigerian National Petroleum Company Limited (NNPC Ltd) has said that it will begin lifting petrol from Dangote Petroleum Refinery on September 15, 2024.... CLICK TO READ THE FULL NEWS HERE▶▶
This was disclosed by Adedapo Segun, the Executive Vice President of Downstream at NNPC Ltd, during his appearance on TVC News’ ‘Journalists’ Hangout’ show on Thursday, September 6, 2024, according to the Chief Corporate Communications Officer of NNPC Ltd, Olufemi Soneye.
NNPC’s Executive Vice President also explained that the market has been deregulated, adding that the exchange rate plays a significant role in determining fuel prices.
“The market has been deregulated, meaning that petrol prices are now determined by market forces rather than by the government or NNPC Ltd. Additionally, the exchange rate plays a significant role in influencing these prices.”
Addressing the current fuel scarcity, Segun said that the current fuel scarcity was expected to subside in a few days as more stations recalibrate and begin selling PMS.
He said: “We are engaging relevant authorities to ensure products diversions are prevented and timely deliveries to all stations are ensured.
“The scarcity should ease in the next few days as more stations re-calibrate and begin operations.”
