In what has been described as another milestone in the Nigerian oil and gas industry, the country’s largest petrochemical refinery has commenced petrol production. The Dangote Petrochemical Refinery is ready to serve the local and regional markets with petrol, diesel and other products like polypropylene.
Alhaji Aliko Dangote, GCON, President of Dangote Group, disclosed this at a press briefing at the Petrochemical complex in Ibeju-Lekki, Lagos State.
He said, “I must thank President Bola Tinubu for creating the enabling environment that has helped us begin refining PMS at the refinery. The president’s policy of paying crude oil in Naira will reduce FX pressure by 40% and discourage roundtripping. The gasoline capacity of the Dangote Refinery will meet the demands of Nigeria and Sub-Saharan Africa at the very least.”
“This Refinery will change Nigeria and Africa’s Oil and Gas Industry dynamics. Meeting the demands of the Sub-Saharan African region. We have good petrol that guarantees the engines of vehicles last longer as the quality matches global standards,” he added.
The business leader noted that the refinery would eliminate all fuel queues in the country and reveal the actual consumption of premium-motor-spirit through a tracker that will be deployed.
Fielding questions on the refinery, he stated that petrol production will improve socio-economic activities in the country, save foreign exchange and support the activities of other related industries.
The Dangote petrochemical refinery has been Nigeria’s single most significant domestic private-sector investment since 1999 and is expected to set the pace for other domestic refineries.
This development comes as Nigeria is grappling with another phase of fuel supply crisis, with long queues and the pump price adjusted to over N850 at NNPC retail stations.
The agreement between the Dangote Petrochemical refinery and NNPCL on the pricing and supply will witness the rollout of the petroleum products in the market in the next 48hrs
