The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, says the Dangote Refinery will begin the distribution of Premium Motor Spirit (PMS) tomorrow, Sunday, September 15, 2024.
Edun, who was represented by the Executive Chairman, Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji, said this at a news conference in Abuja on Friday.
“I am glad to announce that all agreements have been completed and loading of the first batch of PMS from the Dangote Refinery will commence on Sunday, Sept. 15. From Oct. 1, NNPC Ltd. will commence the supply of about 385kbpd of crude oil to the Dangote Refinery, to be paid for in Naira. In return, the Dangote Refinery will supply PMS and diesel of equivalent value to the domestic market, which will be paid in Naira.
Diesel will be sold in Naira by the Dangote Refinery to any interested off-taker. PMS will only be sold to NNPC, NNPC will then sell to various marketers for now,” he said. Edun said that all associated regulatory costs (NPA, NIMASA, etc.) would also be paid for in Naira.
