The President of the Dangote Group, Aliko Dangote, has revealed that the quality of Dangote Refinery’s Premium Motor Spirit (PMS) will be comparable to that of the United States and other global standards. This statement was made during a press conference held to signify the official commencement of petrol production at the 650,000 barrels per day facility.
A sample of the refined petrol was presented, emphasizing its high quality and the potential to enhance engine longevity. Dangote expressed appreciation for the support of the Federal government, staff members, and the Nigerian populace in achieving this milestone.
The operation of the Dangote Refinery, located near Lagos, is poised to have significant economic implications for Nigeria. Once fully operational, it is expected to process 650,000 barrels of oil per day, with petrol accounting for more than half of the output. While the refinery's full production capacity will be a gradual process, it is forecasted to eventually contribute over one percent to global petrol demand.
The commencement of petrol production at the Dangote Refinery is believed to alleviate the challenges faced by the Nigerian National Petroleum Company Limited (NNPC) in supplying the local market, particularly amid its financial constraints. Additionally, the refinery's production capability is expected to impact global fuel trade, potentially influencing market dynamics and supply chains.
The onset of petrol production at the Dangote Refinery comes at a pivotal time, given the recent drop in OPEC's oil output and the challenges faced by NNPC in securing imported fuel supply. This development is anticipated to have a noteworthy impact on Nigeria's fuel market and holds the potential to address the ongoing scarcity issues while also shaping global fuel trade activities.