{"id":230880,"date":"2024-10-12T16:55:19","date_gmt":"2024-10-12T16:55:19","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/10\/12\/nigeria-ends-status-as-sole-buyer-of-fuel-from-dangote-refinery\/"},"modified":"2024-10-12T16:55:19","modified_gmt":"2024-10-12T16:55:19","slug":"nigeria-ends-status-as-sole-buyer-of-fuel-from-dangote-refinery","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/10\/12\/nigeria-ends-status-as-sole-buyer-of-fuel-from-dangote-refinery\/","title":{"rendered":"Nigeria ends status as sole buyer of fuel from Dangote Refinery"},"content":{"rendered":"<p><\/p>\n<div>\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.ghanaweb.com\/imagelib\/pics\/375\/37560792.295.jpg\" alt=\"Nigeria\u2019s Dangote Refinery\" title=\"Nigeria\u2019s Dangote Refinery\" width=\"295\" height=\"166\" \/> <span class=\"image_caption\"><span>Nigeria\u2019s Dangote Refinery<\/span><\/span><\/p>\n<\/div>\n<div style=\"-webkit-user-select: none; -webkit-touch-callout: none; -moz-user-select: none; -ms-user-select: none; user-select: none;\">\n<p id=\"article-123\">Nigeria ended its state-owned oil company\u2019s monopoly on being the sole buyer of gasoline from billionaire Aliko Dangote\u2019s massive refinery, as it moves toward full deregulation of the market. <\/p>\n<p>Retailers can now purchase gasoline directly from local refineries, marking \u201ca departure from the previous arrangement where the Nigerian National Petroleum Corp. served as the sole purchaser and distributor of premium motor spirit from the refineries,\u201d Finance Minister Wale Edun said on Friday. <\/p>\n<p>For years, Africa\u2019s top crude producer shipped its oil abroad and imported the finished petroleum with scarce foreign exchange, selling it at a subsidized price. <\/p>\n<p>That changed in September when it increased the price of fuel closer to the market rate and the Dangote plant near the commercial hub of Lagos started to locally refine gasoline.<\/p>\n<p>The move will allow \u201cmarketers to negotiate commercial terms directly with the refineries, fostering a more competitive market environment and enabling a smoother supply chain for petroleum products,\u201d Edun said.<\/p>\n<p>\u201cThis transition is expected to enhance efficiency in product availability and stabilize market conditions for the benefit of all Nigerians,\u201d he said in remarks after a meeting to review the implementation of crude sales to Dangote in the local naira currency.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Nigeria\u2019s Dangote Refinery Nigeria ended its state-owned oil company\u2019s monopoly on being the sole buyer of gasoline from billionaire Aliko Dangote\u2019s massive refinery, as it moves toward full deregulation of the market. Retailers can now purchase gasoline directly from local refineries, marking \u201ca departure from the previous arrangement where the Nigerian National Petroleum Corp. served [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":230881,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-230880","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Nigeria ends status as sole buyer of fuel from Dangote Refinery - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/10\/12\/nigeria-ends-status-as-sole-buyer-of-fuel-from-dangote-refinery\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria ends status as sole buyer of fuel from Dangote Refinery - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Nigeria\u2019s Dangote Refinery Nigeria ended its state-owned oil company\u2019s monopoly on being the sole buyer of gasoline from billionaire Aliko Dangote\u2019s massive refinery, as it moves toward full deregulation of the market. Retailers can now purchase gasoline directly from local refineries, marking \u201ca departure from the previous arrangement where the Nigerian National Petroleum Corp. served [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ghanamma.com\/2024\/10\/12\/nigeria-ends-status-as-sole-buyer-of-fuel-from-dangote-refinery\/\" \/>\n<meta property=\"og:site_name\" content=\"Ghanamma.com\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-12T16:55:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ghanamma.com\/2024\/wp-content\/uploads\/2024\/10\/37560792.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"337\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ghana News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/10\\\/12\\\/nigeria-ends-status-as-sole-buyer-of-fuel-from-dangote-refinery\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/10\\\/12\\\/nigeria-ends-status-as-sole-buyer-of-fuel-from-dangote-refinery\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"headline\":\"Nigeria ends status as sole buyer of fuel from Dangote Refinery\",\"datePublished\":\"2024-10-12T16:55:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/10\\\/12\\\/nigeria-ends-status-as-sole-buyer-of-fuel-from-dangote-refinery\\\/\"},\"wordCount\":217,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/10\\\/12\\\/nigeria-ends-status-as-sole-buyer-of-fuel-from-dangote-refinery\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/37560792.jpg\",\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/10\\\/12\\\/nigeria-ends-status-as-sole-buyer-of-fuel-from-dangote-refinery\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/10\\\/12\\\/nigeria-ends-status-as-sole-buyer-of-fuel-from-dangote-refinery\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/10\\\/12\\\/nigeria-ends-status-as-sole-buyer-of-fuel-from-dangote-refinery\\\/\",\"name\":\"Nigeria ends status as sole buyer of fuel from Dangote Refinery - 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