In a groundbreaking development, Aliko Dangote, Africa’s leading industrialist, has announced that petrol produced from his 650,000 barrels per day refining facility will hit filling stations within the next 48 hours. This milestone marks a significant turning point in Nigeria’s quest for energy self-sufficiency.
During a press briefing, Dangote revealed that the modalities with the Nigerian National Petroleum Company Limited (NNPCL) are being finalized, paving the way for the distribution of petrol to filling stations nationwide.
He stated, “Our PMS (Premium Motor Spirit) can be in filling stations within the next 48 hours depending on NNPCL.”
When asked about the pricing of the product, Dangote emphasized that it is an arrangement designed and approved by the Federal Executive Council led by President Bola Ahmed Tinubu.
He added, “As soon as it is finalised, which he (Tinubu) is pushing, once we finish with NNPC, it can be today, it can be tomorrow, we are ready to roll into the market.”
The Dangote refinery, which commenced operations in December with 350,000 barrels per day, aims to achieve its full capacity of 650,000 barrels per day by the end of the year.
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The refinery has already begun supplying diesel and aviation fuel to marketers and is now set to introduce petrol into the market.
Dangote also highlighted the benefits of the “Naira for crude” initiative introduced by President Tinubu, stating that it will reduce the demand for foreign exchange by 40% and provide stability to the Naira.
He added that this initiative will also enable the tracking of loaded trucks, making it easier to compute national consumption.
