Today, Dangote Refinery announced it commenced the production of Premium Motor Spirit (PMS), commonly known as petrol. This significant development marks the culmination of over a year of construction and preparation since the refinery’s launch in May 2023.
The Lagos-based refinery has a capacity of 650,000 barrels per day and has already supplied diesel and aviation fuel to the Nigerian market. With the addition of petrol, Dangote Refinery is poised to revolutionize the country’s fuel industry.
Billionaire businessman Aliko Dangote expressed immense pride and excitement at this achievement. He emphasized that the production of high-quality petrol would not only benefit consumers but also revitalize the Nigerian economy. “It’s a celebration day for Nigerians,” Dangote declared at a press conference.
Dangote assured the public that the petrol produced at Dangote Refinery would meet the highest international standards. “You will not be having an engine issue, which a lot of us were having,” he stated. “The quality here will match that of anywhere in the world.”
“The quality here will match that of anywhere in the world; US, America, we will make sure that nobody will beat us in terms of quality.
“We will help to restore industry and manufacturing. We will begin real import substitution, which is what we have, you know, saving foreign exchange, earning foreign exchange, which will stabilize the naira, and it will also help bring down inflation and cost of living,” he stated.
Dangote revealed that the refinery’s products would soon be available to the public through a partnership with the Nigerian National Petroleum Company Limited (NNPCL). This collaboration is expected to significantly increase the supply of fuel in the country and alleviate the challenges associated with fuel shortages and price fluctuations.
The launch of Dangote Refinery represents a major step towards import substitution and economic diversification in Nigeria.
As Dangote Refinery ramps up its production, it is anticipated that the Nigerian fuel market will experience a transformation. Furthermore, the refinery’s contribution to the country’s energy security will have far-reaching implications for its economic development and social stability.
