NNPC Enters New Agreement With Dangote Refinery After IPMAN’s Direct Petrol Lifting Deal

The Nigerian National Petroleum Company Limited (NNPCL) has entered into a new agreement with Dangote Petroleum Refinery, shortly after the conclusion of a direct petrol lifting agreement between the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the refinery.

This was disclosed in a statement by NNPCL spokesperson Olufemi Soneye on Wednesday, November 13.

Soneye noted that the agreement was signed by Justin Ezeala, the Managing Director of the Nigerian National Petroleum Company Gas Marketing Limited, a gas marketing subsidiary of NNPCL, and Aliko Dangote, the President and CEO of Dangote Group, on Tuesday at Dangote’s Corporate Head Office in Falomo, Lagos.

The new Gas Sale and Purchase partnership between the two firms aims to boost local production of petroleum and gas products and ensure their availability to Nigerians.

NNPCL emphasized that the agreement aligns with President Tinubu’s strategy to revamp national growth through the use of natural gas.

The statement reads, “This major milestone is in line with President Bola Tinubu’s policy of utilizing Nigeria’s abundant gas resources to revive the nation’s industrial growth and kickstart economic prosperity.”

Soneye described the partnership as a historic investment for NNPCL, stating, “This development, which sees a significant investment with zero capital expenditure outlay, has been described as unprecedented in the history of NGML or any local gas distribution company in the country.”

NNPC reaffirmed its commitment to supporting the operational success of the Dangote Refinery and other local industries.

The statement added, “This collaboration is a significant step toward ensuring the operational success of the Dangote Refinery and enhancing Nigeria’s domestic gas utilization.

“NNPC Ltd, through NGML, its gas marketing subsidiary, continues to lead efforts in promoting the use of domestic gas to support industries and businesses nationwide.

“The agreement represents a milestone for both NNPC Ltd and Dangote Refinery, aligning with their shared commitment to boosting local production and providing vital products for the benefit of all Nigerians.”

The statement concluded by emphasizing NNPC’s dedication to its core mandate. Soneye stated, “It is also further proof of NGML’s unwavering commitment to business excellence and fulfilling NNPC Ltd’s core mandate of ensuring Nigeria’s energy security through the execution of strategic gas projects across the country.”

This latest agreement is one of several deals entered into by Dangote Refinery and oil firms in Nigeria to enhance productivity and the availability of products for Nigerians.

Investors King reported that the IPMAN President, Abubakar Garima, announced the signing of an agreement in Abuja on Monday, allowing oil marketers to lift petrol directly from Dangote Refinery.