Aliko Dangote, owner of the Lagos-based Dangote Refinery, has announced that petrol produced at his 650,000 barrels-per-day facility could be available at filling stations across Nigeria within the next 48 hours. This development is contingent upon finalizing agreements with the Nigerian National Petroleum Company Limited (NNPCL), a process expected to conclude imminently.
“Our PMS (Premium Motor Spirit) can be in filling stations within the next 48 hours, depending on NNPCL,” Dangote stated, indicating the refinery’s readiness to supply petrol to the market.
Regarding petrol prices, Dangote mentioned that the pricing structure, developed and approved by the Federal Executive Council under President Bola Ahmed Tinubu, is nearing completion. He also assured Nigerians of the high quality of the petrol from his refinery, which he believes will enhance vehicle engine longevity.
“It’s a celebration day for Nigerians,” Dangote declared, emphasizing that the quality of their petrol will be on par with global standards.
The Dangote Refinery, which began operations in December with a capacity of 350,000 barrels per day, is set to reach its full capacity by the end of the year. The refinery has already started supplying diesel and aviation fuel, with petrol now set to join the list.
As Nigeria continues to face energy challenges and rising petrol prices following the removal of subsidies in May 2023, the entry of Dangote’s refined petrol into the market could bring significant changes to the country’s fuel landscape.