The multi-billion dollar Dangote Petro-Chemical Refinery, on Tuesday finally rolled out its first Premium Motor Spirit (PMS), also known as petrol, from its 650,000 barrels per day facility, after several postponement, since the launching of the world biggest single refinery in May 2023, in Lekki , Lagos, Nigeria's commercial city
President of the Dangote Group and owner of the refinery, Aliko Dangote who announced this at a press conference, described the historic event as "a celebration day for Nigerians"
He assured all citizens that they “are now going to have good petrol while the engines of your vehicles will last longer. You will not be having an engine issue, which a lot of us were having. It won’t happen at all.”
“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,” Dangote boasted
He clarified that his company would finalizes modalities with the Nigerian National Petroleum Company Limited (NNPCL), to enable the product hit the market.
“As soon as we finalise with the NNPCL, our product will start going into the market."
“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 stabilise the naira, and it will also help bring down inflation and cost of living,” he stated.
It will be recalled that the $20billion refinery commenced operations at its facility sited in Lagos with 350,000 barrels a day.
The refinery, which was initially bogged by regulatory battles, hopes to achieve its full capacity of 650,000 barrels per day by the end of the year.
The refinery has begun the supply of diesel and aviation fuel to marketers in the country and now petrol.
The roll-out of PMS is coming at a time when NNPCL is battling with the major challenge of how to unsettle its huge $6 billion debt to foreign suppliers which has disrupted local supply which resulted to the scarcity of the product and a leap jump in the pump price of petrol to as much as N1,000 from N650 per litre
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