The Nigerian government has granted petroleum marketers permission to directly lift Premium Motor Spirit (PMS), commonly known as petrol, from the Dangote Refinery.
The announcement was made on Friday by Wale Edun, the Minister of Finance, and the Chairman of the Naira-Crude Sale Implementation Committee. The Ministry of Finance shared this update through its official X (formerly Twitter) account, following a meeting of the Implementation Committee on Thursday.
This decision is expected to bring significant changes to the country’s fuel supply chain. It signals the government’s commitment to increasing local production of petrol, which should help stabilize fuel prices and ensure better availability across the country.
By allowing marketers to purchase petrol directly from the refinery, the government aims to boost efficiency in the market and ensure that fuel is readily accessible to Nigerians.
“With the commencement of local PMS production, the market is better equipped to support these direct transactions. This transition is expected to enhance efficiency in product availability and stabilize market conditions for the benefit of all Nigerians.
“The Committee recognizes that there are questions and discussions regarding this change in the market structure. We are committed to providing clarity on this development and will continue to engage with stakeholders to ensure a seamless transition process”, the statement said.
