Obanla Ridwan Olawale
…Dangote Refinery to Supply 25 Million Litres in September
The Nigerian National Petroleum Company (NNPC) Limited commenced the lifting of premium motor spirit (PMS) from the newly operational Dangote Refinery in Lekki, Lagos, on Tuesday, marking a significant milestone in Nigeria’s energy sector. The refinery, valued at $20 billion, is expected to play a pivotal role in addressing Nigeria’s petrol needs and easing the ongoing fuel scarcity across the country.
Aliko Dangote, the president of the Dangote Group, emphasized the refinery’s capacity to not only meet Nigeria’s domestic demand but also supply the entire sub-Saharan region. Speaking during an inspection of the 650,000 barrels-per-day refinery, Dangote highlighted the refinery’s potential to streamline the fuel supply chain and eliminate the issues of fuel diversion and round-tripping that have plagued the industry.
“Our refinery has the capability to satisfy the petrol demand of sub-Saharan Africa. With this facility, we can accurately track fuel distribution, ensuring transparency and efficiency,” Dangote stated.
He assured Nigerians of the high quality of petrol from the refinery, promising that the product would meet international standards and help reduce the prevalence of substandard fuel that has damaged vehicle engines in the past. “The quality of our petrol will match that of any refinery in the world, ensuring better performance and longevity for vehicle engines,” he added.
In a statement released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Dangote Refinery is set to supply 25 million liters of petrol to the Nigerian market daily, starting this September, with plans to increase output to 30 million liters per day by October 2024. The NMDPRA also confirmed that the NNPC Limited has agreed to supply crude oil to the refinery in local currency, further solidifying the partnership.
Femi Otedola, a prominent businessman and chairman of Geregu Power, lauded the successful operation of the Dangote Refinery. He suggested that the refinery’s efficiency could render local fuel depots obsolete, urging depot owners to reconsider their business strategies in light of the new development.
Otedola also reflected on the transformative impact of Dangote’s ventures, likening the refinery’s impact to the revolution in Nigeria’s cement industry. “The days of relying on foreign entities for our fuel needs are over. This refinery represents a new era of self-sufficiency and economic independence for Nigeria,” Otedola remarked.
As the Dangote Refinery begins operations, it is expected to significantly alleviate Nigeria’s fuel scarcity and reduce the country’s reliance on imported petrol, marking a new chapter in the nation’s quest for energy security.
