Nigeria's NNPC says not sole buyer of Dangote gasoline

Nigeria's NNPC has announced it won't be the sole buyer of gasoline from the new Dangote refinery but will purchase if Dangote's prices exceed pump rates.

The 650,000-barrel-per-day refinery, which recently started producing, is expected to reduce Nigeria's reliance on fuel imports.

While Dangote initially planned for NNPC to be the exclusive buyer, the company can now sell directly to fuel marketers.

Currently, Dangote is supplying 25 million liters of gasoline daily, with plans to increase to 30 million liters in October.

NNPC also raised petrol prices from 617 to 855 naira per liter.