Dangote Announces Imminent Petrol Supply and Pricing Details from Lagos Refinery
Aliko Dangote, the owner of the Lagos-based refinery, has confirmed that petrol produced at his 650,000 barrels per day facility will soon be available at filling stations. The supply of Premium Motor Spirit (PMS) is expected to reach the market within the next 48 hours, depending on the finalization of agreements with the Nigerian National Petroleum Company Limited (NNPCL).
Dangote emphasized that the pricing arrangement for the petrol has been designed and approved by the Federal Executive Council, led by President Bola Ahmed Tinubu. He noted that once the agreement with NNPCL is completed, which could happen as soon as today or tomorrow, the product will be rolled out into the market.
He described the development as a "celebration day" for Nigerians, assuring the public of high-quality petrol that will enhance the longevity of vehicle engines. Dangote stated, "The quality here will match that of anywhere in the world; we will make sure that nobody will beat us in terms of quality."
Operations at Dangote’s $20 billion facility began last December with an initial capacity of 350,000 barrels per day. The refinery has faced regulatory challenges but aims to reach its full capacity of 650,000 barrels per day by the end of the year. It has already started supplying diesel and aviation fuel to marketers and will now include petrol.
Nigeria has long struggled with energy challenges, relying heavily on imported refined petroleum products due to the non-operational state of its state-owned refineries. Since the removal of the petrol subsidy in May 2023, fuel prices have tripled, exacerbating the hardships faced by citizens.
With the anticipated supply from Dangote's refinery, there is hope for improved access to petrol and a potential reduction in fuel queues across the country.