Concerns are beginning to mount in Nigeria’s energy sector as Dangote Refinery, the highly-anticipated facility touted as a game-changer for the country’s fuel production, has failed to meet its 25m fuel supply obligations to the Nigerian National Petroleum Company Limited (NNPC Ltd).
This newspaper recalls that Dangote Refinery and Petrochemicals finally commenced lifting of its Premium Motor Spirit (PMS) to the NNPC on Sunday, with the release of 16.3 million liters.
It was equally gathered that the refinery released a total of 12,200 metric tonnes of fuel (16.3 million liters) from Tank No. 3201D at the Refinery.
But, according to sources, the refinery was expected to produce 25 million litres of fuel on a daily basis as against the 16.3 million.
Instructively, the volume translates to a shortfall of 8.7 million litres when compared with the initial 25 million litres per day pact with the NNPC Ltd.
This development is, however, brewing anxiety among stakeholders in the energy sector for falling short of the agreed target.
The Chief Corporate Communication Officer, NNPC Ltd, Olufemi Soneye, had announced that the company mobilised over 300 trucks to transport the fuel from the refinery and also berthed a vessel for same.
According to our sources, the NNPC Ltd issued a Letter of Credit (LC Ref SBLCxxxxT0083) for over $120 million to cover the initial supply of 25 million liters before being informed by the refinery that it won’t be able to deliver as planned.
Further investigations showed that trucks deployed by NNPC Ltd loaded the product just as Dangote Refinery also confirmed this development by posting videos of the trucks on its X handle.
Soneye confirmed that NNPC Ltd loaded the first batch at the cost of N898 per liter.
He had said in a statement: “We successfully loaded PMS today at the Dangote Refinery. The report stating that we purchased it at N1,300 per liter is false.
“For this initial loading, the price was N898 per liter. I can also confirm, in response to your inquiry, that we will receive 16.8 million liters. As of now, we have loaded over 70 trucks and more trucks are going to load also.”