Nigeria Reaches Agreement With Dangote on Gasoline Distribution
- State-owned company NNPC to distribute products from Sept. 15
- Deal cuts Nigeria’s dependence on imports of refined products
The Dangote Industries Ltd. oil refinery and fertilizer plant site in the Ibeju Lekki district of Lagos.
Photographer: Benson Ibeabuchi/BloombergThis article is for subscribers only.
Nigeria has reached an agreement with the Dangote Refinery through which the country’s state-owned energy firm will be the sole distributor of gasoline from the plant.
Nigerian National Petroleum Co. will supply crude to the Dangote Refinery and in return be the sole distributor of gasoline from the refinery, Zacch Adedeji, chairman of the technical sub-committee that negotiated the deal, said in an emailed statement. The transaction will be performed in local currency.