Aliko Dangote, owner of the Lagos-based refinery, announced on Tuesday that his 650,000 barrels per day facility is ready to commence petrol distribution once final arrangements are made with the Nigerian National Petroleum Company Limited (NNPCL). Speaking on the refinery’s production capabilities, Dangote stated, “Our PMS (Premium Motor Spirit) can be in filling stations within the next 48 hours, depending on NNPCL.”
Regarding pricing, Dangote noted that it is an arrangement designed and approved by the Federal Executive Council under President Bola Tinubu’s leadership. “As soon as it is finalised, which President Tinubu is pushing, once we finish with NNPCL, it can be today, it can be tomorrow, we are ready to roll into the market,” he said.
Dangote assured Nigerians of the high quality of the petrol, emphasizing that it would match international standards and improve engine longevity. “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 affirmed.
The $20 billion refinery, which began partial operations last December, has already started supplying diesel and aviation fuel. It aims to reach its full capacity of 650,000 barrels per day by the end of the year.
Nigeria, plagued by fuel shortages and reliant on imported refined petroleum due to non-operational state-owned refineries, has faced increased fuel prices since subsidy removal in May 2023. This development brings hope for improved local fuel supply and stability in the Nigerian market.
