Dangote Refinery has commenced the rollout of its first Premium Motor Spirit (Petrol) from its 650,000 barrels per day Lagos-based refinery.
The President of Dangote Group, Aliko Dangote, disclosed this during a press conference with journalists on Tuesday.
He stated that the company’s petrol will substitute import dependence, bring down inflation, and stabilize the Naira against the dollar. …CONTINUE READING
According to him, the petrol will hit the Nigerian market as soon as discussions are finalized with the Nigerian National Petroleum Company Limited.
“The quality will match that of anywhere in the world.
“It is a day of celebration. It is a day to give thanks to God, to give thanks to Mr. President, and also to friends who have been supportive in ensuring that this refinery produces gasoline. We are now here.
“As soon as we finalize with the Nigerian National Petroleum Company, our product will start entering the market.”
Upon commissioning in January 2024, the $20 billion refinery commenced production of Naphtha and Aviation Fuel months ago.
The development comes as Nigerians groan over prolonged fuel queues across the country.
This comes as petrol sells for above N1,000 per liter in some parts of the country.
Meanwhile, Aliko Dangote, the Chairman of Dangote group, has disclosed that the 650,000 bpd refinery will ensure availability Premium Motor Spirit (PMS), also known as petrol, in Nigeria.
Dangote made this promise while addressing the press during the official rollout of petrol from the refinery on Tuesday.
According to the Africa’s billionaire businessman, the nation’s oil company is in charge of controlling petrol pump prices.
Describing the development as a turnaround for the country after many years of not producing a single litre of petrol, Dangote noted that he can guarantee availability of product from the refinery while the NNPCL controls pricing.
Pricing is controlled by NNPC. We wait for now. Ours is to ensure that products are available…..that is what I can guarantee you,” Dangote said.
The group chairman, while thanking Nigerians for their support, also lauded the President, Bola Ahmed Tinubu, for creating an enabling environment to achieve the 650,000 barrels per day refinery which will create energy for the nation’s growth, development and prosperity.
