NNPC to Reduce Fuel Imports as Dangote Refinery Commences Production
In a significant development for Nigeria’s energy sector, the Nigerian National Petroleum Corporation Limited (NNPCL) has announced its plans to curtail the importation of Premium Motor Spirit (PMS), commonly known as petrol, once the Dangote Refinery begins full-scale production in late July or early August. This decision comes as the country looks forward to meeting its domestic fuel requirements and achieving energy security. For years, NNPCL has shouldered the responsibility of being the sole importer of petrol into Nigeria, as other oil marketers ceased importation due to challenges in accessing US dollars at official rates. However, with the operationalization of the Dangote Refinery, which boasts a processing capacity of 650,000 barrels per day, the landscape is set to change.