Aliko Dangote, a businessman, announced that petrol produced from his 650,000 barrels per day facility will be available at filling stations within the next 48 hours. This is pending formalization of modalities with the Nigerian National Petroleum Company Limited (NNPCL).
Dangote made this announcement on Tuesday during a press briefing about the formal production of petrol at the refinery. He mentioned, “Our Premium Motor Spirit (PMS) can be in filling stations within the next 48 hours, depending on NNPCL.”
Dangote also mentioned that the pricing of petrol from his refinery is an arrangement designed and approved by the Federal Executive Council led by President Bola Ahmed Tinubu. He highlighted that once the finalization is complete, which President Tinubu is pushing for, the petrol can enter the market as soon as today or tomorrow.
Last December, Dangote commenced operations at his $20 billion facility in Lagos, initially with 350,000 barrels a day. The refinery aims to achieve its full capacity of 650,000 barrels per day by the end of the year. It has also started supplying diesel and aviation fuel to marketers in the country, and now, petrol.
Dangote also emphasized that the introduction of naira for crude will reduce the demand for foreign exchange by 40%. He expressed gratitude to President Bola Tinubu for this idea, stating that it will bring stability to the Naira and eliminate 40% of the demand for dollars. Additionally, he mentioned that tracking loaded trucks would become possible, making it easier to calculate national consumption.
