The Federal Government has finalized an agreement with the Dangote Petroleum Refinery for the distribution of Premium Motor Spirit (PMS) starting in September 2024.
Recall Dockaysworld reported the FG’s announcement to begin sales of crude oil to Dangote and other local refineries in naira starting October 1, 2024.
This was disclosed during a meeting led by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
During the meeting, key initiatives and the roles of various stakeholders were reviewed to ensure smooth implementation.
The meeting also addressed progress on the Port Harcourt and Dangote Refineries, with significant production increases expected by November 2024.
A post on the Ministry of Finance Twitter page seen by Dockaysworld reads,
“The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, today led the Implementation Committee meeting on the transition to crude oil sales in naira.
“The meeting reviewed progress on key initiatives, including the upcoming commencement of naira payments for crude oil sales to the Dangote Refinery starting October 1, 2024.”
Also, the Executive Chairman of the Federal Inland Revenue Service, Dr Zacch Adedeji, and the Chairman of the Technical Sub-Committee reported that “The first PMS delivery from Dangote is expected next month under existing agreements.”
