Fact check by Business Hilights has suggested that as soon as the Dangote’s 650,000 barrels per day crude oil processing refinery begins outputting products, the Nigerian National Petroleum Company (NNPC) Limited will cut down on its import orders and switch to Dangote products.
Recall that NNPCL is currently the sole importer of petrol into Nigeria, a task which it had shouldered for several years because oil marketers stopped importing petrol due to their inability to access the United States dollars at the official rate.
Further checks across Lagos showed that marketers struggle to raise N10bn for new petrol orders at NNPCL.
Already, several depot owners may soon shut down their facilities due to the inability to meet the new financial requirement of about N10bn by the Nigerian National Petroleum Company Limited as the cost of lifting fuel from its ships.
Currently, depot owners were struggling to raise between N5b-N10bn to make new orders from the NNPCL.
