NNPC Demand permanent office space for its staff in Dangote Refinery

The Nigerian National Petroleum Corporation Limited has demanded a permanent office space for its staff in the Dangote refinery as their stay will be overseeing the production and buying back of PMS.

This was disclosed by the vice-president of oil and gas of Dangote Group, Devakumar V. G. Edwin, at an X (Twitter) Space event organised by Nairametrics entitled “Unlocking How Dangote Refinery Shapes Price”.

At the event, he discussed the progress of the company in the production of Premium Motors Spirit (PMS).

Edwin said “NNPC has informed us that they intend to station a team of 6 to 10 people permanently at our refinery. 

“They’ve asked us to provide office space for them since they will be supplying the crude, overseeing the production, and buying back the products in Naira.” 

Edwin also talked about their talk with the government about buying the crude in naira.

He said “We are still in talks with the government about receiving crude in Naira. The discussions are ongoing, and nothing has been finalised yet. 

“Some unresolved issues include the pricing of crude, the pricing mechanism, and determining the appropriate exchange rate for the Naira.”

He explained that Dangote has accepted to receive crude in naira despite the losses he will enquire.

“Dangote said we are going to accept this because the country desperately needs foreign exchange, and the value of the Naira is deteriorating every day.

“I understand that I am going to take a loss because, by the time we sell the product and convert it to dollars, the exchange rate may have worsened,” Edwin quoted Dangote to have said. 

Dangote added: “I am willing to take this loss in the interest of the country. I don’t mind.

“The country is in bad shape. Someone has to take certain risks, and I am ready to face this loss, no matter how significant it may be.”