Investigations have disclosed that no commercial agreement has been reached between the Nigerian National Petroleum Company Limited (NNPCL) and the Dangote refinery to start lifting Premium Motor Spirit (PMS) from the refinery.

Sources from the NNPCL and Dangote refinery has stated that the two oil companies are still not able to agree on the quantity and cost of PMS that the national oil corporation would lift.

Note that the NNPC's Executive Vice President of Downstream, Adedapo Segun, had earlier stated that the firm would lift Dangote petrol on September 15, 2024.

However, on Tuesday, government sources with knowledge of the situation disclosed that no documentation had been signed by either party authorizing NNPC to begin lifting gasoline from the $20 billion Dangote refinery on September 15.

An officer at the Dangote refinery said that no agreements had been made regarding price or the lifting of gasoline, among other things.

He said: “Right now, no documentation from NNPC and NMDPRA (Nigerian Midstream and Downstream Petroleum Regulatory Authority) on product lifting.

"Nobody has spoken to us that they want to pick up PMS on September 15.

“For you to come and pick products in five days there must be discussions on pricing and other things, which is the commercial engagement.

"Of course, there must be an offer and other things, the lawyers will structure the terms and conditions.”