Aliko Dangote, President of Dangote Group, has revealed that Premium Motor Spirit (PMS) from his company’s new refinery could be available in the Nigerian market within the next 48 hours, contingent on final approval from the Nigerian National Petroleum Company Limited (NNPCL). The announcement was made during an interview with Channels Television on Tuesday, marking a significant milestone for the $20 billion Lagos-based refinery.
The refinery, which has a capacity of 650,000 barrels per day, is poised to address the country’s fuel supply challenges, pending the finalization of talks with NNPCL. Dangote emphasized that the rollout of petrol is imminent, depending on how quickly the Federal Executive Council (FEC), led by President Bola Ahmed Tinubu, completes its review and approves the distribution plan.
“The PMS can be on filling stations in the next 48 hours, depending on NNPCL,” Dangote stated. He further explained that the pricing of the petrol would be determined by an arrangement approved by the FEC. “As soon as it is finalized, which could be today or tomorrow, we are ready to roll out in the market,” he added.
This announcement comes on the heels of the refinery’s official commencement of petrol production, a development that has been highly anticipated amid the country’s ongoing fuel crisis. The refinery’s operations are expected to significantly reduce Nigeria’s dependence on imported fuel and ease the burden on the nation’s economy.
As Nigerians await the distribution of Dangote petrol, the collaboration between Dangote Group and NNPCL will be crucial in determining how soon the product reaches consumers. The nation’s eyes are now on the Federal Executive Council to finalize the necessary approvals and set the stage for this much-needed relief.
