More than a year after its launch in May 2023, the Dangote Refinery began producing Premium Motor Spirit (PMS), or petrol, from its 650,000 barrels per day facility on Tuesday.
At a press conference, Aliko Dangote, the owner of the Lagos-based refinery and billionaire businessman, declared that “it’s a celebration day” for Nigerians.
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He assured all citizens that they “are now going to have good petrol while the engines of your vehicles will last longer. You will not be having an engine issue, which a lot of us were having. It won’t happen at all.”
“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 said.
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The refinery owner stated that once his company finalizes arrangements with the Nigerian National Petroleum Company Limited (NNPCL), the product will be available on the market.
“As soon as we finalise with the NNPCL, our product will start going into the market.
“We will help to restore industry and manufacturing. We will begin real import substitution, which is what we have, you know, saving foreign exchange, earning foreign exchange, which will stabilise the naira, and it will also help bring down inflation and cost of living,” he stated.
Last December, Africa’s leading industrialist, Aliko Dangote, began operations at his $20 billion refinery in Lagos with a capacity of 350,000 barrels per day.
Initially hindered by regulatory challenges, the refinery aims to reach its full capacity of 650,000 barrels per day by the end of the year.
The facility has already started supplying diesel and aviation fuel to marketers and has now begun producing petrol.
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